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Consumer confidence falls in September

September 30, 2014

The Conference Board consumer confidence index fell in September to a reading of 86.0 (1985=100) from 93.4 in July, after approaching a seven-year high in August.

“Consumer confidence retreated in September after four consecutive months of improvement,” said Lynn Franco, director of economic indicators at The Conference Board. “A less positive assessment of the current job market, most likely due to the recent softening in growth, was the sole reason for the decline in consumers’ assessment of present-day conditions. Looking ahead, consumers were less confident about the short-term outlook for the economy and labor market, and somewhat mixed regarding their future earnings potential. All told, consumers expect economic growth to ease in the months ahead.”

The number of consumers anticipating more jobs in the months ahead fell to 15.2 percent in September from 17.8 percent in August, according to the index’s survey. Those expecting fewer jobs rose to 17.8 percent from 15.2 percent.

Those saying jobs are “plentiful” decreased to 15.1 percent from 17.6 percent in the previous month’s survey; those claiming jobs are “hard to get” was relatively flat at 30.1 percent versus 30.0 percent in August.