September 26, 2006 – The Conference Board’s Consumer Confidence Index rose by 4.3 index points to 104.5 in September, reversing about two-thirds of August’s unusually large 6.8 point decline (Charts 1 and 2).
September’s revival should help to ease any fears that U.S. consumer spending was about to be undermined by a landslide in consumer confidence. (Consumption accounts for about 70% of U.S. GDP.)
As the Conference Board noted in its press release, “…there is little to suggest a significant change in economic activity as we enter the final quarter of 2006.”
Bottom line: a continuing healthy trend in consumer confidence through September.