Wall Street Journal's Eric Morath reports that according to the University of Michigan's final consumer sentiment index shows consumer confidence rose in September, meaning households are feeling good about the economy this fall.
The index registered 91.2 in September, which is up from the preliminary reading of 89.8, and up from surveyed economist's predictions that the index would rise slightly to 90.0. In August, the gauge read 89.8.
“Confidence edged upward in September due to gains among higher income households, while the sentiment index among households with incomes under $75,000 has remained at exactly the same level for the third consecutive month,” said Richard Curtin, the survey’s chief economist. The survey’s current conditions index increased to 104.2 from the preliminary reading of 103.5, while the expectations index increased to 82.7 from 81.1.