The Conference Board index fell to 109.3 points, its lowest level since February and well below analysts’ expectations (114.4 points).
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US consumer confidence fell again in September, hitting its lowest point since February, a sign of growing concerns about the pandemic, growth prospects and inflation risks.
Falling to 109.3 points (-5.9 points), the Conference Board index, released Tuesday, recorded its third month of decline in a row.
Analysts were expecting a smaller decline, to 114.4 points.
An index of 100 corresponds to consumer confidence in 1985, when this measure began to be taken.
“Consumer confidence fell in September as the spread of the Delta variant [du Covid-19] continued to undermine optimism, ”said Lynn Franco, senior director of economic indicators at the Conference Board, quoted in a press release.
“Fears about the state of the economy and the prospects for short-term growth have strengthened, while forecast spending on homes, cars and appliances has fallen again,” added Ms. Franco. “Fears about short-term inflation have subsided somewhat, but they remain strong.”
Consumer confidence remains at a high level compared to its historical average, but the Conference Board index has fallen by almost 20 points since its peak reached in June.
In detail, the component measuring consumers’ perception of the current economic situation is 143.4 points (-5.5 points), and that measuring expectations in the next six months falls to 86.6 points (-6, 2 points).
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