Consumer confidence weakens in September

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The Conference Board Consumer Confidence Index, which had improved in August, retreated in September. The index now stands at 48.5, down from 53.2 in August. The Present Situation Index decreased to 23.1 from 24.9. The Expectations Index declined to 65.4 from 72.0 last month.

“September’s pullback in confidence was due to less favorable business and labor market conditions, coupled with a more pessimistic short-term outlook,” said Lynn Franco, director of The Conference Board Consumer Research Center, in a statement. “Overall, consumers’ confidence in the state of the economy remains quite grim. And with so few expecting conditions to improve in the near term, the pace of economic growth is not likely to pick up in the coming months.”

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Comments

One comment on “Consumer confidence weakens in September

  1. john ennis

    The Tampa area is a good example. where only half the workforce of 1.3 million is gainfuly employed. Others are drawing unemployment insurance ,disability benefits or other subsistance payments. . Florida is the number one boating state in the nation but it’s a rapidly aging group whose members are now contending not only with disabilities but loss of jobs and plunging retirement investments that they hoped would last them thru the “Golden Years”. New recruits are hard to find since many of them don’t know if they will have a job tomorrow or be filling out unemployment forms. Until better economic winds blow for at least five years it won’t be smooth sailing for the industry..and even then the seas will not be as favorable as in the past.

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