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
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By
Frank Ahrens
|
September 29, 2009; 10:12 AM ET
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| Tags: Conference Board, consumer confidence
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Posted by: yankee11 | September 29, 2009 10:59 AM | Report abuse
my business is down 50% this september compared to last september despite working even harder. i'm seeing more and more people discontinuing my service due to job loss. it's real. it's here and it's scary.
Posted by: papple | September 29, 2009 2:08 PM | Report abuse
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People out here in the middle of this mess are not surprised at all. It seems only the "experts" seem to be constantly surprised. Maybe they need to get out from under their formulas and theories and their attempts to make everything Obama look positive, and visit the real world.