by Robert Hughes
The American Institute for Economic Research
The Consumer Confidence Index from The Conference Board fell again in September, falling 5.9 points or 5.1 percent to 109.3. September was the third decline in a row and puts the index 19.6 points below the June 2021 peak (see first chart). From a year ago, the index is up 8 points or 7.9 percent.
Both major components of the index fell for the month. The present-situation component decreased 5.5 points to 143.4 while the expectations component lost 6.2 points, taking it to 86.6 (see first chart). The details of the report suggest that consumers have become less optimistic about current economic conditions as well as future growth prospects.