MW: Consumer-confidence gauge rises to 7-month high
By Ruth Mantell
WASHINGTON (MarketWatch) - Led by expectations, a gauge of consumer confidence jumped up in September to the highest level in seven months, but remained relatively low, the Conference Board reported Tuesday. The consumer-confidence index increased to 70.3 in September - the highest level since February - from a revised 61.3 in August. A prior estimate for August pegged the level at 60.6. "Despite continuing economic uncertainty, consumers are slightly more optimistic than they have been in several months," said Lynn Franco, director of economic indicators at the Conference Board, a New York research group. September expectations increased for employment and business conditions, while consumers' views on the present situation also rose. Economists polled by MarketWatch had expected confidence to increase to 65 in September, driven by higher stock prices.
