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Consumer confidence falls to two-year low

September 25 2007

The Conference Board's consumer confidence index fell to its lowest point in almost two years in September. It now stands at 99.8, down from 105.6 in August.

Consumers claiming conditions are "good" fell to 25.7% in September from 26.2% in August. More also said jobs were "hard to get," rising to 22.1% in September from 19.7% in August. And those saying jobs are "plentiful" fell to 25.7% in September from 27.5% in the previous month.

"Weaker business conditions combined with a less favorable job market continue to cast a cloud over consumers and heighten their sense of uncertainty and concern," said Lynn Franco, director of The Conference Board's consumer research center. "Looking ahead, little economic improvement is expected and with the holiday season around the corner this is not welcome news."

The consumer confidence survey is based on a sample of 5,000 U.S. households.

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