U.S. consumers were a little more optimistic about the economy in September, according to a report released Tuesday. (Tweet this)
The Conference Board’s Consumer Confidence Index inched up to 103 in September, beating estimates. Economists polled by Reuters expected a reading of 96.1. August’s reading was 101.3.
“Consumer confidence increased moderately in September, following August’s sharp rebound,” said Lynn Franco, Director of Economic Indicators at The Conference Board.
“Consumers’ expectations for the short-term outlook, however, remained relatively flat, although there was a modest improvement in income expectations. Thus, while consumers view current economic conditions more favorably, they do not foresee growth accelerating in the months ahead.”
At stake is the $7 trillion that the Institute of International Finance reckons has flowed into emerging markets since 2005, via direct investments, mergers and acquisitions, and stock and bond purchases. Some of those with EM exposure may considering moving before regulators do.
“Malaysia, Brazil, Indonesia all have a recent history of intervening and imposing capital controls … this is very much contingent on how much more outflows there are to come, and how much more depreciation there is to come,” said Aidan Yao, senior emerging Asia economist, Axa Investment Managers Asia.