CONSUMER CONFIDENCE IMPROVES IN SEPTEMBER

September 29, 2006

The confidence level of U.S. consumers improved this month, buoyed by a more favorable assessment of current economic conditions, according to a recent report by The Conference Board. Following a sharp decline in August, the Board’s Consumer Confidence Index increased to 104.5 in September, up from 100.2 in August. The Present Situation and Expectations indexes also improved, rising to 127.7 and 89, respectively. Despite the gain in consumer confidence, “there is little to suggest a significant change in economic activity as we enter the final quarter of 2006,” said Lynn Franco, director of The Conference Board Consumer Research Center. According to the report, more Americans are optimistic about jobs and incomes in the months ahead. The proportion of consumers anticipating more jobs to open up increased from 14.2 percent to 14.4 percent in September, and the percentage of consumers anticipating their incomes to increase in the near-term edged up to 19.7 percent from 17.9 percent in August. Source: California Association of Realtors®

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