US consumer sentiment index reaches 14-month high
WASHINGTON (AP) — A measure of U.S. consumer confidence reached its highest level since July 2013, led by more optimism that the economy will grow and incomes will rise.
The University of Michigan says its index of consumer sentiment rose to 84.6 in September from 82.5 in August. That's the second highest level in the past seven years, although the index has rarely topped 85 since the Great Recession. Before the downturn, it typically stood above 90.
Still, other measures also indicate that consumers' outlook is brightening. The Conference Board's consumer confidence index increased to a seven-year high last month.
Faster growth may be fueling a more optimistic outlook. The economy expanded at a 4.6 percent annual rate in the April-June quarter, the government says, the fastest pace in more than two years.