Consumer Confidence Rises Solidly in September

Sam Bullard Wells Fargo

Labor Market Improvement Boosts Current Sentiment

Increasing for the second consecutive month, consumer confidence unexpectedly rose 2.3 points to a new cycle high of 104.1 in September. Gains were seen in both the present situation and expectations indices.
Consistent with the Fed’s assessment of “strengthening,” labor market conditions have been supportive to the recent increase we have seen in confidence and consumer spending growth.

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Author

Sam Bullard

Wells Fargo

Sam Bullard is a director and senior economist with Wells Fargo. Based in Charlotte, N.C., he covers U.S. macroeconomic and financial market developments as well as the financial services industry.

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