Consumer confidence rose to 103.8 in September from August's 102.5. Consequently, the index remained above the 100-point threshold, indicating optimism among consumers.FocusEconomics Consensus Forecast panelists expect private consumption to expand 3.1% in 2021, which is up 0.1 percentage points from last month’s projection. Looking at 2022, our panelists see private consumption growing 3.3%, which is down 0.1 percentage points from the previous month’s estimate.
Going into the details of the print, consumers were less pessimistic regarding the future of the domestic economy, while showing more optimism regarding prospective interest rates. In addition, households see increased spending ahead. Notably, the remaining subjects such as living standards and income remained unchanged in September.