Consumer confidence sees September surge

Author:
Updated:
Original:

Consumer confidence reached a seven-month high in September.

The Conference Board’s index increased to 70.3 this month from 61.3 in August, figures from the New York-based private research group showed today.

Bloomberg Businessweek reported that the September figure exceeded the most optimistic projection of economists, whose median estimate in a Bloomberg survey called for 63.1.

"Consumers were more positive in their assessment of current conditions, in particular the job market, and considerably more optimistic about the short-term outlook for business conditions, employment and their financial situation,” Lynn Franco, director of economic indicators at The Conference Board, said in a statement. “Despite continuing economic uncertainty, consumers are slightly more optimistic than they have been in several months."

The group’s measure of present conditions increased to a five-month high of 50.2 from 46.5 in August. The measure of expectations for the next six months advanced to 83.7, the highest since February, from 71.1.

The percent of respondents in the Conference Board survey expecting more jobs to become available in the next six months climbed to 18.5, the highest since February, from 15.8 the previous month. The proportion of consumers who expect their incomes to rise over the next six months rose to 16.3, the highest this year, from 16 percent in August.

Click here for the full Bloomberg Businessweek report.

Related

Viking Holds Vaccination Event

The New Jersey-based builder is working with local healthcare providers to offer Covid-19 shots to employees and their families.

Bellingham to Supply Dock for Superyacht Marina

Bellingham Marine will design and install a floating concrete dock system at Hurricane Hole Superyacht Marina in the Bahamas.

Off the Charts

Even as builders faced order backlogs and product shortages, registrations continued to soar in March.

Maverick Boat Group Expands

The Florida-based builder plans to increase production capacity by 30 percent and add 150 new jobs.

Polaris Names CEO and CFO

Previously interim executives, Michael Speetzen was named the CEO and Bob Mack the CFO of the Minnesota-based powersports company.

Sanlorenzo Reports Q1 Financials

The Italian builder continues to gain market share and expects to debut five models at Cannes in September and launch three new lines in 2022.