Stat of the Day: Consumer Confidence Hits Jan 2008 Highs
The University of Michigan September sentiment numbers roared ahead this month easily surpassing consensus and sharply above early August numbers. These numbers are always very volatile and not always in tune with actual consumer spending. The impressive part of this report was the future expectations continue to reach levels not seen until prior to the financial collapse.
- The Reuters/University of Michigan Surveys of Consumers said its final index of sentiment for September rose to 73.5 from 65.7 in August.
- This was above economists' median expectation for a reading of 70.3, according to a Reuters poll.
- The index of consumer expectations rose to 73.5, its highest in two years, from 65.0 in August.
- "Consumers reported that the economy had already begun to improve and anticipated further gains in the year ahead." The index of current conditions rose to 73.4 in late September from 66.6 in August.