Consumer confidence jumps to five-month high thanks to falling gas prices
The numbers: Americans feel a lot better because of falling gasoline prices: A survey of U.S. consumer confidence jumped to a five-month high of 108 in September.
The strong labor market and rising wages also gave Americans more confidence, the nonprofit Conference Board said Tuesday. The unemployment rate is close to a 54-year low and wages are rising at the fastest pace in decades. The Federal Reserve is raising rates sharply to to try to tame the highest inflation in 40 years. Higher rates raise slow the economy and an increasing number of economists think another recession is likely by next year.
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