Consumer Confidence: Modest Decline from Cycle Highs
September 26, 2017
Bottom Line: Despite a marked decline in confidence among consumers impacted by hurricanes, overall consumer confidence declined only slightly in September, according to the Conference Board. Nationwide short-term outlooks improved modestly, while consumers' outlooks for labor market conditions improved again. The trend in consumers' views of the present situation continued to trend higher, while their future expectations were lower, but still quite high.
Consumer Confidence FELL by 0.6 points in September to 119.8, compared with market expectations for a decline to 120.0. The index is now 15.7% ABOVE its year ago level.
Present Situation Index FELL by 2.3 points to 146.1. The index is 14.2% ABOVE its year ago level.
The Expectations Index ROSE by 0.5 points to 102.2. The index is 17.2% ABOVE its year ago level.
The labor differential, the percentage of respondents who said jobs are “hard to get” from the percentage who said jobs are “plentiful” , moved lower by 1.5 points to 14.5.
Article by Contingent Macro Advisors