Consumer Confidence Falls in September Sep 30, 2009

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The Conference Board said that its Consumer Confidence Index dipped to 53.1 in September, down from the revised 54.5 reading in August. A reading above 90 means the economy is on solid footing. Above 100 signals strong growth.

The Conference Board's Present Situation Index, which measures consumers' current assessment of the economy, declined to 22.7 from 25.4. The Expectations Index, which measures consumers' outlook over the next six months, dipped to 73.3 from 73.8 last month.

Those claiming business conditions are "bad" increased to 46.3 percent from 44.6%, while those claiming conditions are "good" increased to 8.7% from 8.5%.

Consumers' appraisal of the job market was also less optimistic. Those claiming jobs are "hard to get" increased to 47% from 44.3%, while those claiming jobs are "plentiful" decreased to 3.4% from 4.3%.

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