Conference Board September Consumer Confidence Index Slips to 79.7

The consumer confidence index decreased to 79.7 in September from a revised 81.8 last month, The Conference Board reported Tuesday.

The August index was originally reported as 81.5.

The present situation index rose to 73.2 from a revised 70.9, first reported as 70.7, while the expectations index slid to 84.1 from a revised 89.0, first reported as 88.7.

Economists polled by Thomson Reuters predicted a 79.8 reading for the index.

"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," said Lynn Franco, director of The Conference Board's Consumer Research Center. "Consumers' assessment of current business and labor 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."

Business conditions were called "good" by 19.5% of respondents in September, up from 18.7% in August. Those saying conditions are "bad" slid to 23.9% from 24.5%.

The percentage of consumers expecting a pickup in business conditions in the next half year grew to 20.9% from 20.6%, while 11.0% said they expect conditions to worsen, off from 11.1% in the prior month.

On the jobs front, those who believe jobs are "plentiful" climbed to 11.5% in September from 11.3% in August, while the number saying jobs are "hard to get" slid to 32.7% from 33.3%. The respondents who see fewer jobs becoming available in a half year, increased to 19.7% from 17.2%. Those expecting more jobs to become available fell to 16.9% from 17.5%, The Conference Board reported.

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