Consumer Confidence Retreats in September
NEW YORK--After gaining some ground in August, the consumer confidence index reverted to a downward direction this month, losing 4.7 points to finish September at 48.5.
According to The Conference Board, provider of the indicator, both of the indicator's main component indexes, present situation and expectations, registered declines. Expectations (which provides the outlook for six months ahead) dropped 6.6 points to 65.4, while Present Situation finished at 23.1, down 1.8 points. The percentages of survey respondents who described current conditions and the labor market as unfavorable increased, as did the percentages of participants who expect business conditions and the jobs market to worsen over the next six months.