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Consumer Confidence Nears 15-Year High

October 08, 1987|From Reuters

NEW YORK — American consumers' confidence in the economy rose to the highest level in almost 15 years in September as people were cheered by the declining jobless rate, the New York-based Conference Board said Wednesday.

The business research group's consumer confidence index climbed to 114.8 from 110.7 in August and is now up 12% since June.

The survey, which covers 5,000 households throughout the United States, said consumer optimism had swelled in just about every region of the country.

Most people's buying plans improved in September, although the number of people who intend to buy a home fell to 3.9% from 4.1% in August, the Conference Board said.

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