Consumer Confidence Hits New Low
Consumer confidence drops as fuel costs and economic worries surge.
In brief
Consumer confidence drops as fuel costs and economic worries surge. Consumer confidence fell to 81.9 in September as fuel prices and economic concerns rose to new heights. Originally reported by Pymnts.
Consumer confidence falls
Consumer confidence fell in September as concerns about fuel costs and other goods rose to new heights.
Index drops 6.7 points
The Conference Board Consumer Confidence Index fell by 6.7 points to 81.9 at the end of September.
Business conditions index declines
An index measuring business and labor market conditions retreated by 7.9 points to 109.3.
Short-term outlook index falls
An index gauging short-term income, business and labor market outlook fell by 5.9 points to 63.6.
Economist highlights price concerns
Dana M Peterson, chief economist, noted consumers’ write-in responses were mostly pessimistic about prices and fuel costs.
“Consumers’ write-in responses regarding factors affecting the economy were mostly pessimistic in September”
Consumer sentiment declines
The University of Michigan’s survey showed consumer sentiment slipped 7% in September amid price and trade concerns.
What to remember
Consumer confidence fell to 81.9 in September as fuel prices and economic concerns rose to new heights.
