Consumer confidence in the US economy rose unexpectedly in September

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The consumer confidence index in the US reached its highest level in September from September 2000, having increased to 138.4 points from 134.7 points in August, the results of the Conference Board research showed. The growth of the index was a surprise for analysts, who had expected its decrease to 132 points. The growth of the indicator is observed for three months in a row due to a strong labor market and tax cuts, which supports strong consumer spending. The indicator, determining the attitude of Americans to the current financial situation, peaked in December 2000 at 173.1 points. Consumer expectations for the next 6 months rose to 115.3 points from 109.3 points a month earlier. This is the highest level of the indicator since October 2000. In September, 27.6% of Americans expect business conditions to improve in the next six months, while in August they were 24.4%.

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