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Consumer confidence slips in September

September 24 2013

The Conference Board’s U.S. consumer confidence index edged down in September after rising slightly in August. The index now stands at a reading of 79.7 (1985=100), down from 81.8 in August.

“Consumer Confidence decreased in September as concerns about the short-term outlook for both jobs and earnings resurfaced, while expectations for future business conditions were little changed,” said Lynn Franco, director of economic indicators at The Conference Board. “Consumers’ assessment of current business and labor market conditions, however, was more positive. While overall economic conditions appear to have moderately improved, consumers are uncertain that the momentum can be sustained in the months ahead.”

The number of consumers anticipating more jobs in the months ahead fell to 16.9 percent in September from 17.5 percent in August, according to the index’s survey. Those expecting fewer jobs increased to 19.7 percent from 17.2 percent.

The percentage of people saying business conditions are “good” increased to 19.5 percent in September from 18.7 percent in August. Consumers’ expectations regarding the short-term outlook increased again in September; the percentage of consumers expecting business conditions to improve over the next six months edged up to 20.9 percent in September from 20.6 percent in August.

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