results from the Conference Board’s September consumer confidence survey are out.
The survey’s headline index fell to 79.7 in September from August’s upward-revised 81.8 reading.
Economists predicted the index would fall to 79.9.
Below is the full text of the release:
The Conference Board Consumer Confidence Index® Falls Slightly
24 September, 2013
The Conference Board Consumer Confidence Index®, which had increased slightly in August, decreased in September. The Index now stands at 79.7 (1985=100), down from 81.8 in August. The Present Situation Index grew to 73.2 from 70.9. The Expectations Index fell to 84.1 from 89.0 last month.
The monthly Consumer Confidence Survey®, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was September 13.
Says Lynn Franco, Director of Economic Indicators: “Consumer Confidence decreased in September as concerns about the short-term outlook for both jobs and earnings resurfaced, while expectations for future business conditions were little changed. Consumers’ assessment of current business and labour market conditions, however, was more positive. While overall economic conditions appear to have moderately improved, consumers are uncertain that the momentum can be sustained in the months ahead.”
Consumers’ appraisal of present-day conditions improved moderately. Those claiming business conditions are “good” increased to 19.5 per cent from 18.7 per cent, while those claiming business conditions are “bad” decreased to 23.9 per cent from 24.5 per cent. Consumers’ assessment of the labour market was also more favourable. Those saying jobs are “plentiful” increased slightly to 11.5 per cent from 11.3 per cent, while those saying jobs are “hard to get” decreased to a five-year low of 32.7 per cent from 33.3 per cent.
Consumers’ expectations, which had increased in August, declined in September. The percentage of consumers expecting business conditions to improve over the next six months edged up to 20.9 per cent from 20.6 per cent, while those expecting business conditions to worsen was virtually unchanged at 11.0 per cent.
Consumers’ outlook for the labour market, however, grew more pessimistic. Those anticipating more jobs in the months ahead decreased to 16.9 per cent from 17.5 per cent, while those anticipating fewer jobs increased to 19.7 per cent from 17.2 per cent. The proportion of consumers expecting their incomes to increase declined to 15.4 per cent from 17.5 per cent.
September 2013 Consumer Confidence Survey®
The Conference Board