Consumer Confidence Is Down

Consumer confidence as measured by the Conference Board’s Consumer Confidence Survey declined to 53.1 in September, down from 54.5 in August.

The Conference Board, a private research group, said shoppers’ intentions to buy big-ticket items like homes, cars, and major appliances dipped because shoppers simply don’t have money to spend.

The index hit a historic low of 25.3 in February, rose from March through May, and then declined as joblessness paralyzed consumers. Readings above 90 means the economy is solid. Above 100 signals strong growth.

Source: The Associated Press, Anne D’Innocenzio (09/29/2009)