Thomson Reuters/University of Michigan: Confidence Posts Significant Gain
ANN ARBOR. Consumer confidence improved substantially in the September survey due to more favorable prospects for the national economy. Importantly, consumers expected the economy to create more jobs in the year ahead. The overall rise in confidence was aided by higher stock prices as well as rising home values. The majority of consumers, however, still anticipate very small wage gains, and expect somewhat larger price increases during the year ahead, largely due to rising food prices. This meant that half of all households anticipate declining living standards as their incomes fail to keep pace with inflation. Click here to view the full release.
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