Privately-owned research group, the New York-based Conference Board, reported Tuesday that its widely watched consumer confidence index fell again in September – the fourth successive month of its downward trend.
The September index stands at 93.3 points, down from a revised 94.5 in August. But this still bettered economists’ expectations of an index drop to 92.2, reports Dow Jones Newswires.
Says Conference Board research director Lynn Franco: “Weak labor market conditions continue to erode confidence. But while consumers are not as positive about current business conditions, they are more optimistic about the outlook than last month. Historically, this trend is prevalent during a recovery.”
Data sourced from: The Wall Street Journal Online; additional content by WARC staff