Consumer confidence rose to a seven-month high in September, significantly more than forecast. The Confidence Board’s index rose to 70.3. Estimates were for a rise to 63.1.
This Website Is For Financial Professionals Only
People are more optimistic about finding a job and housing prices rose 1.2% from last year.
This is the largest increase in prices since August of 2010.
The unemployment rate seems stuck above 8% but the increase in housing prices improves sentiment since housing has the potential to lead the economy to recovery.
Markets are also rising and adding to people’s incomes. These two sources of increased income give hope to improving business conditions, which improves prospects for employment.