New York, NY, Sept. 30, 2014 — Consumer confidence fell sharply in September, according to the Conference Board.
The board’s index of consumer confidence fell to 86 from 93.4 in August. The August reading was the highest since October 2007.
“Consumer confidence retreated in September after four consecutive months of improvement,” said Lynn Franco, director of economic indicators at the Conference Board.
“A less positive assessment of the current job market, most likely due to the recent softening in growth, was the sole reason for the decline in consumers’ assessment of present-day conditions. Looking ahead, consumers were less confident about the short-term outlook for the economy and labor market, and somewhat mixed regarding their future earnings potential. All told, consumers expect economic growth to ease in the months ahead.”