Consumer confidence fell in September, as did other metrics related to people’s perceptions of the economy, according to The Conference Board.
The organization's Consumer Confidence Index decreased to 125.1, from 134.2 in August — when it had already declined from July, the organization announced Tuesday. The Present Situation Index, meanwhile, which is based on consumers’ assessment of current business and labor-market conditions, fell too, to 169, from 176 in August. And the Expectations Index, a gauge of consumers’ short-term outlook for income, business and labor-market conditions, similarly fell back, to 95.8, from 106.4 last month.
“The escalation in trade and tariff tensions in late August appears to have rattled consumers,” said Lynn Franco, the Conference Board's senior director of economic indicators. “However, this pattern of uncertainty and volatility has persisted for much of the year, and it appears [that] 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."
By Edmund Mander