Consumer Confidence Sees Big Fall in September
September 24, 2019
Economists expected a modest decline in U.S. consumer confidence for September. Instead, they got the biggest slide in nine months as confidence fell to 125.1 in September from 134.2 the month before. Septemeber’s reading is the largest discrepancy between economist forecast and the actual reading since 2010.
The Conference Board, who tracks the index, attributed the decline to the increasing trade tensions between the U.S and China. The components that track consumers’ feeling about current business and market conditions, as well as the component that tracks consumers’ short-term outlook, both saw sizable declines as well.