Consumer Confidence Falling
A weaker job market and less favorable business conditions in September dragged consumer confidence down to its lowest level in nearly two years, the Conference Board reported Tuesday.
In a survey of 5,000 households nationwide, only 25.7 percent of respondents described the economy as "good," down from 26.2 percent in August, while 17.9 percent described it as "bad," up from 16.3 percent, the New York-based private research group said.
More respondents also said they expected conditions to worsen in the months ahead, especially in the labor market.
"Looking ahead, little economic improvement is expected and with the holiday season around the corner this is not welcome news," Lynn Franco, the director of the group's consumer research center, said in a statement.
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