RTRS: U.S. consumer confidence up higher in September-IBD
NEW YORK, Sept 15 (Reuters) - U.S. consumer confidence
continued to rise in September, largely reflecting stronger
stock-market gains, a survey released on Tuesday said.
Investor's Business Daily and TechnoMetrica Market
Intelligence said their IBD/TIPP Economic Optimism Index rose
to 52.5 in September from 50.3 in August.
The index is now 5 points above its 12-month average of
47.5 and 8.1 points above its reading of 44.4 in December 2007,
when the economy entered the recession.
Index readings above 50 indicate optimism, while those
below 50 point to pessimism.
"Across-the-board we see our index sustaining its last
month gain and building some more on top of it," said Raghavan
Mayur, president of TIPP, a unit of TechnoMetrica Market
Intelligence, IBD's polling partner.
"If the index can sustain the current healthy levels, we
believe that it could greatly help consumer spending."
In August, Mayur said he projected the recession would end
in the third quarter this year.
The IBD/TIPP surveys more than 900 adults generally in the
first week of the month.
