28-Oct-2009 8:41 AM

US economic short-term outlook "more negative", as Consumer Confidence slumps

The Conference Board's US Consumer Confidence Index, which had declined in Sep-2009, deteriorated further in Oct-2009 to 47.7 (1985=100), down from 53.4 in Sep-2009.

The Conference Board: "Consumers' assessment of present-day conditions has grown less favorable, with labour market conditions playing a major role in this grimmer assessment...The short-term outlook has also grown more negative, as a greater proportion of consumers anticipate business and labor market conditions will worsen in the months ahead. Consumers also remain quite pessimistic about their future earnings, a sentiment that will likely constrain spending during the holidays", Lynn Franco, Director of Consumer Research Center. Source: The Conference Board, 27-Oct-2009

Want More News Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More