United States: Consumer confidence remains close to two-year low
September 27, 2011
The mood of American consumers remains gloomy. In September, the Conference Board consumer confidence index recorded 45.4 points, which was virtually unchanged from the revised 45.2 points registered in August (previously reported: 44.5 points). Moreover, the reading undershot market expectations that had the index rising to 46.5 points. According to the Conference Board, ?consumers expressed greater concern about their expected earnings, a sign that does not bode well for spending. In addition, consumers' assessment of current conditions declined for the fifth consecutive month, a sign that the economic environment remains weak.? Nonetheless, respondents' short-term outlook improved somewhat along with the expected condition in the labour market for the months ahead.