Consumer confidence rose in September, reaching the highest level in 18 years. According to the results of a survey conducted by the Conference Board, a global independent research organization, consumer confidence hit 138.4 in September, surpassing August’s level of 134.7. This is close to the all-time high of 144.7 in 2000, the Conference Board stated. Economists at Reuters estimated consumer confidence level to reach 132 in September. “Consumers’ assessment of current conditions remains extremely favorable, bolstered by a strong economy and robust job growth,” said Lynn Franco, director of economic indicators at the Conference Board. “These historically high confidence levels should
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The sales of existing homes in the U.S. held steady in August after four consecutive months of decline, according to the latest data released from the National Association of Realtors®. Regionally, existing-home sales were up in the Northeast and Midwest, essentially cancelling out declines in the West and the South. “Strong gains in the Northeast and a moderate uptick in the Midwest helped to balance out any losses in the South and West, halting months of downturn momentum,” said NAR Chief Economist Lawrence Yun in a press statement. “With inventory stabilizing and modestly rising, buyers appear ready to step back into
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