Consumer Confidence Still Weak in September
U.S. consumer confidence was little changed in September amid concerns about income as a gauge of labor market conditions deteriorated to its worst since 1983, an independent survey showed on Tuesday.
The Conference Board said its index of consumer attitudes ticked up to 45.4 from an upwardly revised 45.2 in August.
Economists polled by Reuters had expected the index to rise to 46.0 from a previously reported 44.5 in August. Consumer confidence is regarded as a measure of consumer health.
``The pessimism that shrouded consumers last month has also spilled into September. Consumers expressed greater concern about their expected earnings, a sign that does not bode well for spending,'' said Lynn Franco, director of the Conference Board Consumer Research Center.
In a sign that people were struggling to find employment, the jobs-hard-to-get index rose to 50.0, the highest level since May 1983, from 48.5 the previous month.