Consumer confidence posts solid gain to 101.8 in September

U.S. consumer confidence posted a better-than-expected gain in September but remains well below the levels reached before the coronavirus pandemic shut down the economy in the spring

U.S. consumer confidence rebounded more quickly in September than most economists had expected, but it remains well below levels that preceded the pandemic

The Conference Board reported Tuesday that its consumer confidence index rose to a reading of 101.8, up from 86.3 in August.

The increase came from a more favorable view of current business and labor market conditions as well as renewed optimism about the short-term outlook.