Consumer mood up in rare bright spot in US

The United States' economy is sending mixed signals. While third-quarter GDP growth is forecast at only 0.3 percent after two quarters of retraction, consumer confidence is rising, according to recent data from the Atlanta Fed's GDPNow model.

Nonprofit The Conference Board said on Tuesday that its consumer confidence index rose to 108 in September from 103.6 in August, helped by a drop in gasoline prices. The index also rose last month following three straight monthly declines as US households were hit by rising prices of food and at the gas pump.

Analysts surveyed by data provider FactSet had expected consumer confidence to rise slightly as gas prices have fallen from highs this summer of more than $5 per gallon. The American Automobile Association said the average price for a gallon of gas in the US fell to $3.75 on Tuesday.