Consumer confidence hovers around 18-year high

Consumers’ confidence in the state of the U.S. economy increased in September, even after August’s jump.

Consumers' confidence increased by 3.7 points in September to 138.4, not far from the all-time high of 144.7 reached in 2000.

“After a considerable improvement in August, Consumer Confidence increased further in September and hovers at an 18-year high,” said Lynn Franco, director of Economic Indicators at The Conference Board.

“Consumers’ assessment of current conditions remains extremely favorable, bolstered by a strong economy and robust job growth ….. These historically high confidence levels should continue to support healthy consumer spending, and should be welcome news for retailers as they begin gearing up for the holiday season,” Franco added.

Consumers' assessment of the labor market improved, with 45.7 percent of Americans claiming jobs are plentiful, compared to the prior 42.3 percent, while 22.5 percent expect more jobs in the months ahead compared to the prior 21.5 percent.