Consumer Confidence Up But May Not Last

Washington, DC, Sept. 30, 2008--Consumer confidence unexpectedly rose in September although responses were taken before the latest turmoil in the markets.

The Conference Board's confidence index increased to 59.8, a third consecutive increase, from 58.5 the prior month, the New York-based group said today. A separate report showed home prices fell in July at the fastest pace on record from a year earlier.

Americans are likely to lose confidence heading into the presidential election on Nov. 4. Today's report is the next-to- last Conference Board sentiment reading before the vote.

The confidence gauge was forecast to drop to 55 from an originally reported 56.9 in August.