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- U.S. consumer confidence declines more than forecast in September
U.S. consumer confidence declines more than forecast in September
The Conference
Board announced on Tuesday its U.S. consumer confidence gauge fell 9.1 points
to 125.1 in September from 134.2 in August.
Economists had
expected consumer confidence to come in at 133.5.
August’s
consumer confidence reading was revised down from originally estimated 135.1.
The survey
showed that the expectations dropped from 106.4 last month to 95.8 this month,
while the present situation index decreased from 176.0 to 169.0.
Lynn Franco,
Senior Director of Economic Indicators at The Conference Board, noted, “Consumer
confidence declined in September, following a moderate decrease in August. Consumers
were less positive in their assessment of current conditions and their
expectations regarding the short-term outlook also weakened. 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. 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
expansion.”
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