US consumer confidence wanes
Worries about the US economy came back to the fore yesterday after a widely followed gauge of consumer confidence dipped to its lowest level since February.
The Conference Board's index of consumer attitudes fell to 48.5 in September, against a revised 53.2 reading for August. Lynn Franco, the director of the Conference Board consumer research centre, said consumer "confidence in the state of the economy remained quite grim".
"September's pull-back in confidence was due to less favourable business and labour market conditions, coupled with a more pessimistic short-term outlook," she explained.
The percentage of consumers expecting a worsening of business conditions in the next six months was also higher, rising to 16.4 per cent from 13.4 per cent.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies