I’m telling you, Senator Kerry, hitting Bush on Iraq is working but don’t forget the economy. Consumer Confidence fell again in August for the second month running. Those consumers are your voters, go get ’em!
Consumer confidence declined in September for the second consecutive month, a New York-based private research group said Tuesday.
The Consumer Confidence Index fell 1.9 points to 96.8 from a revised reading of 98.7 in August, according to The Conference Board. Analysts had expected a reading of 99.5.
“The recent declines in the index were caused primarily by a deterioration in consumers’ assessment of employment conditions,” said Lynn Franco, director of the organization’s Consumer Research Center. “Soft labor market conditions have clearly taken a toll on consumer confidence. Still, expectations for the next six months are virtually unchanged from August.”
Economists closely track consumer confidence because consumer spending accounts for two-thirds of all U.S. economic activity.