October 4 Consumer confidence, which dipped sharply in August, remained essentially unchanged last month, according to the latest Consumer Confidence Index from The Conference Board.
The September Index is 45.4, up slightly from 45.2 in August. The Expectations Index improved, while the consumers' reading of present conditions declined, from 34.3 to 32.5.
"The pessimism that shrouded consumers last month has spilled over into September," said Lynn Franco, director of The Conference Board Consumer Research Center. "Consumer expectations, which had plummeted in August, posted a marginal gain. However, consumers expressed greater concern about their expected earnings, a sign that does not bode well for spending. In addition, consumers' assessment of current conditions declined for the fifth consecutive month, a sign that the economic environment remains weak," she added.