Consumer Confidence Rises in September

U.S. consumer confidence rose in September as job losses slowed and the economy showed signs of improvement, according to the Reuters/University of Michigan monthly consumer sentiment index released Friday.

The preliminary index for September was 70.2, up from 65.7 in August.

The level was higher than economists’ forecasts of a 67.5 reading, Bloomberg reported.

An improvement in confidence may increase consumer spending, which accounts for 70% of the economy.