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The Conference Board released its consumer confidence index for the U.S. on Tuesday. The index rose to 103.0 in September from 101.3 in August, beating expectations for a rise to 96.1. August's figure was revised down from 101.5.
The increase was mainly driven by the better outlook for current conditions. The present conditions index climbed to 121.1 in September from 115.8 in August. It was the highest level since September 2007.
The Conference Board's consumer expectations index for the next six months decreased to 91.0 in September from 91.6 in August.
"Consumers' more positive assessment of current conditions fuelled this month's increase. Thus, while consumers view current economic conditions more favourably, they do not foresee growth accelerating in the months ahead," the director of economic indicators at The Conference Board, Lynn Franco, said.
The percentage of consumers expecting more jobs in the coming months was up to 25.1% in September from 22.1% in August.
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