The Conference Board Consumer Confidence Index, which had declined in August, fell even more in September and now stands at 99.8 (1985=100), down from 105.6 in August, The Conference Board reports (via MarketingCharts).
Moreover, The Present Situation Index decreased to 121.7 from 130.1, and The Expectations Index declined to 85.2 from 89.2, it said.
"The Consumer Confidence Index is now at its lowest level in nearly two years (Nov. 2005, 98.3)," said Lynn Franco, Director of The Conference Board Consumer Research Center. "Weaker business conditions, combined with a less favorable job market, continue to cast a cloud over consumers and heighten their sense of uncertainty and concern."
"Looking ahead, little economic improvement is expected, and with the holiday season around the corner this is not welcome news," she added.
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