US consumer confidence jumps to 7-month high
by Anne D'Innocenzio, AP Retail Writer

The Associated Press    Translate This Article
25 September 2012

NEW YORK (AP) - U.S. consumer confidence jumped this month to the highest level since February, bolstered by a brighter hiring outlook.

The Conference Board said Tuesday that its Consumer Confidence Index rose to 70.3. That's up from 61.3 in August, which was revised higher. And it's the highest reading since February, when the economy added 259,000 jobs.

The indicator is watched closely because consumer spending drives nearly 70 percent of economic activity. The reading is still below 90, a level that indicates a healthy economy. Since the beginning of the year, the index has fluctuated sharply.

The survey was conducted from Sept. 1 through Sept. 13. It showed consumers were more optimistic about the current availability of jobs and their outlook over the next six months.

Their confidence in the job market is higher, even though employers added just 96,000 jobs in August. That's down from 141,000 in July and too few to keep up with population growth.

The unemployment rate fell to 8.1 percent from 8.3 percent, but only because many people gave up their job search, so they were no longer counted as unemployed.

A measure of how consumers feel now about the economy rose to 50.2, up from 46.5 last month. And they are even more optimistic about the next six months.

The upbeat report on confidence comes as a widely watched index on home prices offered more evidence of a housing recovery. According to the Standard & Poor's/Case Shiller index, home prices kept rising in July across the United States, buoyed by greater sales and fewer foreclosures.

National home prices increased 1.2 percent in July, compared to the same month last year, according to the index. That's the second straight year-over-year gain after two years without one.

Steady price increases and record-low mortgage rates are helping drive a housing recovery.

Those stating jobs are 'plentiful' rose to 8.3 percent from 7.2 percent, while those claiming jobs are 'hard to get' edged down to 39.9 percent from 40.6 percent.

Those expecting more jobs in the months ahead increased to 18.5 percent from 15.8 percent, while those anticipating fewer jobs declined to 18.5 percent from 23.7 percent.

The proportion of consumers expecting an increase in their incomes edged up to 16.3 percent from 16.0 percent.

___

AP Economics Writer Christopher S. Rugaber in Washington contributed to this report.

Copyright © 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Every day Global Good News documents the rise of a better quality of life dawning in the world from good news reported by the press; and highlights the need for introducing Natural Law based—Total Knowledge based—programmes to bring the support of Nature to every individual, raise the quality of life of every society, and create a lasting state of world peace.



Translation software is not perfect; however if you would like to try it, you can translate this page using:

(Google) Select a language English to Afrikaans English to Albanian English to Arabic English to Belarusian English to Bulgarian English to Catalan English to Chinese (Simplified) English to Chinese (Traditional) English to Croatian English to Czech English to Danish English to Dutch English to Estonian English to Filipino English to Finnish English to French English to Galician English to German English to Greek English to Hebrew English to Hindi English to Hungarian English to Icelandic English to Indonesian English to Irish English to Italian English to Japanese English to Korean English to Latvian English to Lithuanian English to Macedonian English to Malay English to Maltese English to Norwegian English to Persian English to Polish English to Portuguese English to Romanian English to Russian English to Serbian English to Slovak English to Slovenian English to Spanish English to Swahili English to Swedish English to Thai English to Turkish English to Ukrainian English to Vietnamese English to Welsh English to Yiddish

(Altavista babelfish) Select a languageEnglish to Chinese-simpEnglish to Chinese-tradEnglish to DutchEnglish to PortugueseEnglish to FrenchEnglish to GermanEnglish to GreekEnglish to ItalianEnglish to JapaneseEnglish to KoreanEnglish to RussianEnglish to Spanish

Send Good News to Global Good News.

Your comments.