Consumer confidence data from the Conference Board
- Prior was 84.8 (revised to 86.3)
- Present Situation 98.5 vs 84.2 prior
- Expectations 104.0 vs prev 85.2
- Jobs "plentiful" increased from 21.4 percent to 22.9 percent
- Jobs "hard to get" decreased from 23.6 percent to 20.0 percent
This is a very big beat but even with that, it's a long way back to pre-pandemic levels.
"Consumer Confidence increased sharply in September, after back-to-back monthly declines, but remains below pre-pandemic levels," said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. "A more favorable view of current business and labor market conditions, coupled with renewed optimism about the short-term outlook, helped spur this month's rebound in confidence. Consumers also expressed greater optimism about their short-term financial prospects, which may help keep spending from slowing further in the months ahead."
