By IANS/EFE,
New York : The confidence of US consumers in the economic progress of the country was relatively unchanged in September after falling in August to its lowest point in more than two years.
The Consumer Confidence Index prepared for The Conference Board based on surveys stood at 45.4 points this month, slightly above the 45.2 in August, when it had plunged 14.7 points.
At that time the indicator dropped to a level not seen since April 2009, due in part to the long negotiations in the US Congress to raise the debt limit that left the country bordering on default.
“The pessimism that shrouded consumers last month has spilled over into September,” Lynn Franco, director of The Conference Board Consumer Research Center, said in a statement.
“Consumer expectations, which had plummeted in August, posted a marginal gain. However, consumers expressed greater concern about their expected earnings, a sign that does not bode well for spending,” Franco said.
Thus, the sub-index that measures US consumer confidence in the current economic situation and in the labour market declined in September for the fifth consecutive month, dropping to 32.5 points compared with 34.3 in August.
According to Franco, the latest reversal is “a sign that the economic environment remains weak”.
On the contrary, the subindex that measures confidence that consumers express with regard to how the economic and labour panorama will look six months from now rose slightly in September to 54 points, compared with 52.4 in August.