USA: unexpected deterioration in consumer confidence

(CercleFinance.com) - Against all expectations, US consumer confidence worsened in September, according to Tuesday's monthly survey by the Conference Board, a business organization, confirming the scenario of a slowdown in US economic activity.


Its confidence index fell to 98.7, from 105.6 in August, while economists were expecting it to improve to 104, after 103.3 in the first reading.

This was the sharpest decline in three years.

The sub-index of Americans' assessment of their current situation fell by 10.3 points to 124.3, while that measuring their expectations dropped by 4.6 points to 81.7.

ConfBoard points out, however, that the latter remains above the 80-point threshold, a level below which a recession is potentially on the way, according to the trade organization.

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