Consumer Confidence Falls in September

September 27, 2010  by in UnCategorized   

By Home Furnishings Business in economic news on September 28, 2010

After improving in August, consumer confidence fell in September, The Conference Board announced Tuesday.

The Conference Board Consumer Confidence Index, which rose in August to 53.2, dropped to 48.5 in September. The Present Situation Index decreased to 23.1 from 24.9. The Expectations Index declined to 65.4 from 72 last month.

"September's pull-back in confidence was due to less favorable business and labor market conditions, coupled with a more pessimistic short-term outlook," said Lynn Franco, director of The Conference Board Consumer Research Center. "Overall, consumers' confidence in the state of the economy remains quite grim. And, with so few expecting conditions to improve in the near term, the pace of economic growth is not likely to pick up in the coming months."

The Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households. The monthly survey is conducted for The Conference Board by TNS, a major largest custom research company.