Consumer confidence dipped in September after showing improvement the prior month, according to the Conference Board.
The board’s Consumer Confidence Index hit 53.1 this month, down from 54.5 in August. A reading of 50 is considered neutral.
Households surveyed by the Conference Board were not particularly enthusiastic about current economic conditions or prospects for the immediate future. The Present Situation Index decreased to 22.7 from 25.4. The Expectations Index declined to 73.3 from 73.8 last month.
The Conference Board said that while not as pessimistic as earlier this year, consumers are still “quite apprehensive about the short-term outlook and their incomes. With the holiday season quickly approaching, this is not very encouraging news.”
