United States: Consumer confidence falls slightly in September
September 24, 2013
In September, the Conference Board consumer confidence index fell from August's revised 81.8 points to 79.7 points. The reading was virtually in line with market expectations of a fall to 80.0 points.
The Conference Board suggested that consumers' less positive assessment of the economy in September reflects that their, "concerns about the short-term outlook for both jobs and earnings have resurfaced. While overall economic conditions appear to have moderately improved, consumers are uncertain that the momentum can be sustained in the months ahead."
September's decrease in confidence was mainly driven by a decrease in consumers' expectations regarding their personal finances over the next 12 months. In contrast, households surveyed expressed a moderately more positive outlook with respect to their current financial situations. Respondents' assessment of the future job market was more pessimistic; fewer people anticipated more jobs in the coming months.
Author: Carl Kelly, Economist