Source: Economics Group of Wells Fargo Bank, N.A.
Summary
The Consumer Confidence Index rose to its highest level since April, and now sits more than 12 points higher than where it was just two months ago. Falling gasoline prices and a still-tight labor market are the main reasons we have seen a recent rebound in confidence. But as inflation persists and the Fed lifts rates to combat it, we are unlikely to see confidence approach pre-pandemic levels.
Sharp Improvement in Confidence
The near five-point gain in consumer confidence in September lifted the index to 108.0 (chart). This marks the highest level in five months, and in conjunction with the sizable gain in August, puts the index 12.7 points higher than where it stood just two months ago. READ FULL ARTICLE>>