Consumer Confidence Rebounds
Sept. 12 (Bloomberg) -- Confidence among U.S. consumers rose the most in more than four years as a decline in gasoline prices provided relief from rising unemployment and tumbling home values. The Reuters/University of Michigan preliminary index of consumer sentiment increased to 73.1 this month, the biggest increase since January 2004, from 63 in August. The measure averaged 85.6 in 2007 (see top chart above).
NEW YORK, September 11, 2008 — Although the calendar indicates the end of summer is quickly approaching, it appears consumer confidence may be heating up, according to the most recent results of the RBC CASH (Consumer Attitudes and Spending by Household) Index, which advanced for the second consecutive month. Overall consumer confidence climbed 35 points to stand at 69.2, compared to 33.8 in August (see bottom chart above). This month's RBC CASH Index was buoyed by an 81 point increase in Americans' expectations for the future. Gains also were made in every other facet of consumer sentiment, including assessments of current conditions, investing and job security.