Consumer Confidence was up 9 points in September, increasing from 61.3 in August to 70.3, according to the Conference Board. This is a positive sign for the economy, indicating that consumers are feeling more optimistic about their current employment and financial situations, suggesting that they will be more likely to spend money in the future.
Consumers also were more optimistic about the near-term future, with more than 18 percent expecting things to improve over the next six months. Less than 14 percent expect business conditions to worsen during that period.
Here’s a graph of the Conference Board’s Consumer Confidence index from 2000 through September 2012. The index fell substantially from a peak of 111.9 in July 2007, down to 25.3 in February 2009. Since then it has gradually trended upward, except for a downward spike in 2011.