Index at Highest Level Since Recession
NEW YORK, Sept. 27, 2016 /PRNewswire/ — The Conference Board Consumer Confidence Index®, which had increased in August, improved further in September. The Index now stands at 104.1 (1985=100), up from 101.8 in August. The Present Situation Index rose from 125.3 to 128.5, while the Expectations Index improved from 86.1 last month to 87.8.
“Consumer confidence increased in September for a second consecutive month and is now at its highest level since the recession,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “Consumers’ assessment of present-day conditions improved, primarily the result of a more positive view of the labor market. Looking ahead, consumers are more upbeat about the short-term employment outlook, but somewhat neutral about business conditions and income prospects. Overall, consumers continue to rate current conditions favorably and foresee moderate economic expansion in the months ahead.”
The monthly Consumer Confidence Survey®, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was September 15.
Consumers’ assessment of current conditions improved in September. Those stating business conditions are “good” decreased from 30.3 percent to 27.4 percent. However, those saying business conditions are “bad” declined from 18.2 percent to 16.2 percent. Consumers’ appraisal of the labor market was more positive than last month. Those stating jobs were “plentiful” increased from 26.8 percent to 27.9 percent, while those claiming jobs are “hard to get” declined from 22.8 percent to 21.6 percent.
Consumers’ optimism regarding the short-term outlook was more favorable in September. The percentage of consumers expecting business conditions to improve over the next six months decreased from 17.6 percent to 16.5 percent. However, those expecting business conditions to worsen also declined from 11.4 percent to 10.2 percent.
Consumers’ outlook for the labor market was more upbeat than in August. The proportion expecting more jobs in the months ahead increased from 14.4 percent to 15.1 percent, while those anticipating fewer jobs declined from 17.5 percent to 17.0 percent. The percentage of consumers expecting their incomes to increase declined from 18.5 percent to 17.1 percent. However, the proportion expecting a decline decreased from 11.0 percent to 10.3 percent.
September 2016 Consumer Confidence Survey®
The Conference Board
The Conference Board publishes the Consumer Confidence Index®, at 10 a.m. ET on the last Tuesday of every month. Subscription information and the technical notes to this series are available on The Conference Board website: https://www.conference-board.org/data/consumerdata.cfm.
About The Conference Board
The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world’s leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org
Nielsen Holdings plc (NYSE: NLSN) is a global performance management company that provides a comprehensive understanding of what consumers watch and buy. Nielsen’s Watch segment provides media and advertising clients with Total Audience measurement services for all devices on which content — video, audio and text — is consumed. The Buy segment offers consumer packaged goods manufacturers and retailers the industry’s only global view of retail performance measurement. By integrating information from its Watch and Buy segments and other data sources, Nielsen also provides its clients with analytics that help improve performance. Nielsen, an S&P 500 company, has operations in over 100 countries, covering more than 90 percent of the world’s population. For more information, visit www.nielsen.com.
SOURCE The Conference Board