US consumer confidence dropped in September as macro events weighted on the short-term growth outlook
US consumer confidence dropped in September as macro events weighted on the short-term growth outlook. The Conference Board Consumer Confidence Index hit 86 this month, down from 93.4 in August. It's the first down month in the index after four straight months of increases. The confidence number is also lower than the median forecast of 92.5. According to the survey, consumers were less confident about the economic outlook in the short-term, the labor market, and future earnings potential. Given the widespread geopolitical turmoil we've seen the last several weeks, it's not really a surprise that confidence is lower. After all, many US companies rely on overseas revenues, which could be in for a slowdown across multiple regions. (VIEW LINK)
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