Economy
September 30, 2014
Consumer Confidence Dropped in September
Written by Peter Wright
The Consumer Confidence Index as reported by the Conference Board declined sharply in September, particularly in the expectations component. The composite fell from 93.4 to 86.0, the view of the present situation fell from 93.9 to 89.4 as expectations declined from 93.1 to 83.7. In closer examination, it looks as though the August view of the present situation was an outlier as may be the September view of expectations. The three month moving averages (3MMA), provide a much more hopeful picture as shown in Figure 1 and both the view of the present situation and expectations are above their long term trend line as shown in the bold lines in Figure 2.
