US Consumer Confidence Dips As Jobs Outlook Dims

[Purveyor]

WASHINGTON — Americans’ confidence in the economy fell slightly in September from August, as many became less optimistic about hiring and pay increases over the next six months.

The Conference Board, a New York-based private research group, said Tuesday that its consumer confidence index dropped to 79.7 in September. That’s down from August’s reading of 81.8, which was slightly higher than previously estimated.

Consumers’ confidence is closely watched because their spending accounts for 70 percent of economic activity. The September reading was only slightly below June’s reading of 82.1, the highest in 5 ½ years.

While confidence has bounced back from the depths of the Great Recession, it has yet to regain a reading of 90 that typically coincides with a healthy economy.

In September, confidence fell on a dimmer outlook for the next few months. Lynn Franco, who oversees the survey, said that reflected concerns about the job market and wages. Consumers were actually more optimistic about present conditions.

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http://www.app.com/viewart/20130924/NJBIZ/309240046/US-consumer-confidence-dips-jobs-outlook-dims

[durablend]

1. SHOCKING, I tell you...

confidence fell on a dimmer outlook for the next few months...reflected concerns about the job market and wages

You mean the underclass is finally figuring out the nobility isn't going to give them JACK SHIT?