US consumer confidence rises in September

US consumer confidence rose and was higher than expected in September, according to a private sector report released on Tuesday.

PHOTO: AFP

SEP 29, 201510:40 PM

[WASHINGTON] US consumer confidence rose and was higher than expected in September, according to a private sector report released on Tuesday.

The Conference Board, an industry group, said its index of consumer attitudes rose to 103.0, the highest since January, from a downwardly revised 101.3 the month before. Economists had expected a reading of 96.1, according to a Reuters poll.

The August reading was revised to 101.3 from 101.5.

The consumer present situation index was 121.1 in September, hitting its highest level since Sept 2007 and up from 115.8 in August, which was revised up from 115.1.

The consumer expectations index however fell to 91.0 from 91.6 and the "jobs hard to get" index rose to 24.3 from a revised 21.7 the month before.

Consumers expectations for inflation in the coming 12 months rose to 5.2 per cent from 4.9 per cent in August.

REUTERS