US consumer confidence beats expectations in September

US consumer confidence rose unexpectedly in September, figures released on Tuesday showed.

The index monitoring sentiment among US consumers rose to 103.0 in September, up from 101.3 in the previous month and comfortably above analysts’ expectations for a 97.3 reading.

“While Fed chair Janet Yellen will mainly be focussing on Friday’s unemployment data this week, there is still some significance to the consumer confidence figures released today,” said Dennis de Jong, managing director at UFX.com.

“Broadly in line with expectations, the index points to a level of stability in the world’s largest economy, while the moderate upturn will make for pleasing viewing for Yellen.

“In general terms, there has been a clear disconnect between confidence and spending currently, as disposable income continues to rise in the States. Today marks a change in that trend.”