Industry News

Another dismal month for consumer confidence

Conference Board index tumbles on weak economic outlook

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Consumer confidence took another hit in September, falling to its lowest level in nearly two years, as Americans grew more cautious about current business conditions and a softer job market, The Conference Board reported today. The Consumer Confidence Index fell to 99.8 this month from 105.6 in August, and hasn't been this low since November 2005 when it registered 98.3. "Weaker business conditions combined with a less favorable job market continue to cast a cloud over consumers and heighten their sense of uncertainty and concern," Lynn Franco, director of The Conference Board Consumer Research Center, said in a statement. "Looking ahead, little economic improvement is expected, and with the holiday season around the corner, this is not welcome news." According to the survey, the percentage of consumers claiming current-day business conditions are good decreased to 25.7 percent in September from 26.2 percent in August, while those saying conditions are "bad" increased to 17.9 percent f...