The Conference Board Reports Consumer Confidence Index Declined for Second Consecutive Month in August

The Conference Board, a non-partisan, not-for-profit think tank founded in 1916, released today (9-28-21) their Consumer Confidence Index® (CCI) for September 2021. The CCI declined in September, following decreases in both August and July. The Index now stands at 109.3 (1985=100), down from 115.2 in August. The Present Situation Index — based on consumers’ assessment of current business and labor market conditions — fell to 143.4 from 148.9 last month. The Expectations Index — based on consumers’ short-term outlook for income, business, and labor market conditions — fell to 86.6 from 92.8.

In remarks prepared for the release of this month’s CCI, Lynn Franco, Senior Director of Economic Indicators at The Conference Board said, “Consumer confidence dropped in September as the spread of the Delta variant continued to dampen optimism. Concerns about the state of the economy and short-term growth prospects deepened, while spending intentions for homes, autos, and major appliances all retreated again. Short-term inflation concerns eased somewhat but remain elevated. Consumer confidence is still high by historical levels — enough to support further growth in the near-term — but the Index has now fallen -19.6 points from the recent peak of 128.9 reached in June. These back-to-back declines suggest consumers have grown more cautious and are likely to curtail spending going forward.”