DJ DATA SNAP/Confidence: Up Solidly In September(DJ)
DJ DATA SNAP/Confidence: Up Solidly In September(DJ)
=========================================================
Conference Board Sep Aug !Forecast: 104.0 !
Consumer Confidence 104.5 100.2r !Actual: 104.5 !
Present Situation 127.7 123.9r ! !
Expectations 89.0 84.4r ! !
=========================================================
By John McAuley
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--U.S. consumer confidence rebounded solidly
in September although it failed to regain all of the ground lost
in August, as consumers responded favorably to the decline in
gasoline prices, a report released Tuesday indicated.
The Conference Board, a private research group, said its index of
consumer confidence for September rose to 104.5 compared with the
upward-revised 100.2 seen in August. The current month's reading
was just above economists' expectations for a reading of 104.0,
according to a survey of 23 economists conducted by Dow Jones
Newswires.
"A more favorable assessment of current conditions coupled with a
less pessimistic short-term outlook boosted consumer confidence
this month," said Lynn Franco, who directed the survey. "However,
even though consumers' concerns have eased, there is little to
suggest a significant change in economic activity as we enter the
final quarter of 2006."
The present situation index, a gauge of consumers' assessment of
current economic conditions, rose to 127.7 from 123.9 the prior
month.
Consumer expectations for the state of economic activity over the
next six months increased to 89.0 from 84.4 in August.
The Conference Board noted in the report that respondents who
assess economic conditions as "good" increased to 27.4% in
September from 26.2%, while those who termed current conditions as
"bad" slipped to 15.4% from the 16.6% who held that view in August.
In a welcome development, consumers' outlook for the economy's
performance over the next six months also edged higher in
September. Those expecting economic conditions to worsen slipped
to 10.6% from 12.9% in August, while those expecting improved
business conditions increased to 16.3% from 16.2%.
The report noted that the outlook for labor market conditions was
also a bit more favorable. Consumers expecting fewer jobs to
become available in coming months decreased to 17.1% in September
from 18.1% in the prior month, while those expecting more jobs
edged up to 14.4% from 14.2%.
Assessment of current labor market conditions also improved. The
share of respondents saying that jobs are "plentiful" increased to
25.9% from 24.5%, but those saying that jobs are "hard to get" also
edged up to 21.3% from 21.1%.
The conference Board report is based on a survey of 5,000
households, conducted by mail. The deadline for responses was
Sept. 19.
-By John McAuley, Dow Jones Newswires;
=========================================================
Conference Board Sep Aug !Forecast: 104.0 !
Consumer Confidence 104.5 100.2r !Actual: 104.5 !
Present Situation 127.7 123.9r ! !
Expectations 89.0 84.4r ! !
=========================================================
By John McAuley
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--U.S. consumer confidence rebounded solidly
in September although it failed to regain all of the ground lost
in August, as consumers responded favorably to the decline in
gasoline prices, a report released Tuesday indicated.
The Conference Board, a private research group, said its index of
consumer confidence for September rose to 104.5 compared with the
upward-revised 100.2 seen in August. The current month's reading
was just above economists' expectations for a reading of 104.0,
according to a survey of 23 economists conducted by Dow Jones
Newswires.
"A more favorable assessment of current conditions coupled with a
less pessimistic short-term outlook boosted consumer confidence
this month," said Lynn Franco, who directed the survey. "However,
even though consumers' concerns have eased, there is little to
suggest a significant change in economic activity as we enter the
final quarter of 2006."
The present situation index, a gauge of consumers' assessment of
current economic conditions, rose to 127.7 from 123.9 the prior
month.
Consumer expectations for the state of economic activity over the
next six months increased to 89.0 from 84.4 in August.
The Conference Board noted in the report that respondents who
assess economic conditions as "good" increased to 27.4% in
September from 26.2%, while those who termed current conditions as
"bad" slipped to 15.4% from the 16.6% who held that view in August.
In a welcome development, consumers' outlook for the economy's
performance over the next six months also edged higher in
September. Those expecting economic conditions to worsen slipped
to 10.6% from 12.9% in August, while those expecting improved
business conditions increased to 16.3% from 16.2%.
The report noted that the outlook for labor market conditions was
also a bit more favorable. Consumers expecting fewer jobs to
become available in coming months decreased to 17.1% in September
from 18.1% in the prior month, while those expecting more jobs
edged up to 14.4% from 14.2%.
Assessment of current labor market conditions also improved. The
share of respondents saying that jobs are "plentiful" increased to
25.9% from 24.5%, but those saying that jobs are "hard to get" also
edged up to 21.3% from 21.1%.
The conference Board report is based on a survey of 5,000
households, conducted by mail. The deadline for responses was
Sept. 19.
-By John McAuley, Dow Jones Newswires;
posted by Cannon Trading at 7:33 AM
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