Confidence index unexpectedly up
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From Times Wire Services
Consumer confidence unexpectedly rose in September in a survey taken before the recent worsening of the credit crisis.
The Conference Board’s confidence index increased to 59.8, a third consecutive gain, from 58.5 the prior month, the New York-based group said.
Since the confidence survey’s Sept. 23 cutoff, the odds have risen that consumers will retrench in the wake of failing banks, evaporating wealth and paychecks that aren’t keeping up with inflation.
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