Consumer Confidence Rises in September

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fter a sharp downturn in August, U.S. consumer confidence rose in September, the New York-based Conference Board said Tuesday.

The board’s index increased to 104.5 from a revised level of 100.2 in August, the group said in its monthly report.

The gauge averaged 100.3 last year, including a low of 85.2 in October, following Hurricanes Katrina and Rita.

The consumer confidence index is a predictor of consumer spending. When people are feeling less confident about the economy, they are less likely to spend money, which decreases demand for trucking services.

The survey’s present-situation index increased to 127.7 from 123.9. A gauge of consumer expectations for the next six months rose to 89 from 84.4 last month.

Every month the Conference Board surveys 5,000 households on general economic conditions, their employment prospects and spending plans.