Consumer Confidence Drifts Lower
Americans' confidence drifted lower in September, according to The Conference Board's Consumer Confidence Index®, which calculates economic and job sentiment. The Index slid to 125.1, down from 134.2 the month prior.
"Consumers were less positive in their assessment of current conditions and their expectations regarding the short-term outlook also weakened," Lynn Franco, senior director of Economic Indicators at The Conference board, said in a statement. "The escalation in trade and tariff tensions in late August appears to have rattled consumers.
"However, this pattern of uncertainty and volatility has persisted for much of the year and it appears confidence is plateauing," Franco said. "While confidence could continue hovering around current levels for months to come, at some point this continued uncertainty will begin to diminish consumers' confidence in the [economic] expansion."
Within the Index, Americans' confidence in their job prospects slightly soured, with the amount believing there are many open positions slipping to 44.8 percent from 50.3 percent, but the amount believing they're "hard to get" falling, as well, to 11.6 percent from 12 percent. The amount believing their incomes will improve sunk to 19 percent from 24.7 percent, but the amount anticipating a decrease fell, too, to 5.6 percent from 6.3 percent.
Source: The Conference Board