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U.S. consumer confidence in September rose to the highest level in nine years, a hopeful sign that economic growth will accelerate in coming months.

The Associated Press reported that the Conference Board said today (Sept. 27) that its consumer confidence index rose to 104.1, up from 101.8 in August. It was the strongest reading since the index stood at 105.6 in August 2007, four months before the beginning of the Great Recession of 2007-2009.

Private economists had been forecasting the index would drop in September after a strong August reading. Many analysts expected that recent volatility in the stock market and some subpar economic readings on auto sales and manufacturing might lead consumers to feel less confident.

They also thought that increased uncertainty revolving around the presidential campaign might weigh on consumers.

“It appears that steady job gains, low volatility in equity markets and subdued gasoline price pressures are helping consumers’ outlooks,” analysts at Contingent Macro Research said in a note to clients.

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