Consumer Confidence Slips in September
Consumer confidence stalled in September, sliding backward from its August levels, according to data out moments ago.
The confidence index in September came in at 53.1, down from 54.5 in August, according to the Conference Board's consumer sentiment survey.
The August number marked the highest level since September 2008.
The September number missed expectations by four to five points, which is disappointing and could indicate consumers are hunkering down for a low-spending holiday season.
The retail industry expects only a 1 percent increase in holiday spending compared with last year and lower margins, as retailers probably will not offer the deep discounts they were forced to make last holiday season.
-- Frank Ahrens
Sign up to get The Ticker on Twitter
September 29, 2009; 10:12 AM ET
Categories: The Ticker | Tags: Conference Board, consumer confidence
Save & Share: Previous: Wall Street Up Modestly
Next: SEC Inspector General Tells Agency What It Must Do To Catch Next Madoff
Posted by: yankee11 | September 29, 2009 10:59 AM | Report abuse
Posted by: papple | September 29, 2009 2:08 PM | Report abuse
The comments to this entry are closed.