Little change in US consumer confidence
September 28th, 2011 - 1:40 pm ICT by IANSNew York, Sep 28 (IANS/EFE) The confidence of US consumers in the economic progress of the country was relatively unchanged in September after falling in August to its lowest point in more than two years.
The Consumer Confidence Index prepared for The Conference Board based on surveys stood at 45.4 points this month, slightly above the 45.2 in August, when it had plunged 14.7 points.
At that time the indicator dropped to a level not seen since April 2009, due in part to the long negotiations in the US Congress to raise the debt limit that left the country bordering on default.
“The pessimism that shrouded consumers last month has spilled over into September,” Lynn Franco, director of The Conference Board Consumer Research Center, said in a statement.
“Consumer expectations, which had plummeted in August, posted a marginal gain. However, consumers expressed greater concern about their expected earnings, a sign that does not bode well for spending,” Franco said.
Thus, the sub-index that measures US consumer confidence in the current economic situation and in the labour market declined in September for the fifth consecutive month, dropping to 32.5 points compared with 34.3 in August.
According to Franco, the latest reversal is “a sign that the economic environment remains weak”.
On the contrary, the subindex that measures confidence that consumers express with regard to how the economic and labour panorama will look six months from now rose slightly in September to 54 points, compared with 52.4 in August.
–IANS/EFE
rd
- US consumer confidence at 2-year low - Oct 26, 2011
- US consumer confidence declines - Jun 01, 2011
- US consumer confidence at 28-month low - Aug 31, 2011
- Consumer confidence rebounds in US - Nov 30, 2011
- US consumer confidence at three-decade low - Aug 13, 2011
- US consumer confidence edges upward - Sep 17, 2011
- US consumer confidence continues rise - Dec 28, 2011
- US consumer confidence at five-month low - Mar 12, 2011
- Growth slows in US service sector - Dec 06, 2011
- Growth of US manufacturing sector slows - Nov 02, 2011
- Report points to slower growth in US manufacturing - Sep 02, 2011
- US personal incomes decline - Oct 01, 2011
- US consumer prices rose in September - Oct 20, 2011
- China manufacturing expands in April (Lead) - May 01, 2012
- US retail sales up in September - Oct 16, 2011
Tags: consumer confidence index, consumer expectations, consumers, contrary, current economic situation, debt limit, earnings, economic environment, economic progress, efe, franco, labour market, marginal gain, negotiations, panorama, pessimism, regard, six months, surveys, us congress