Economy
Most Consumers Still Confident Despite Storms
Written by Tim Triplett
September 27, 2017
Consumer confidence took a hit in the storm-affected regions of the South, but overall remains at high levels, which is positive news for the U.S. economy.
“Consumer confidence decreased slightly in September after a marginal improvement in August,” said Lynn Franco, director of economic indicators at The Conference Board, an independent business research association based in New York. “Confidence in Texas and Florida, however, decreased considerably, as these two states were the most severely impacted by Hurricanes Harvey and Irma. Despite the slight downtick in confidence, consumers’ assessment of current conditions remains quite favorable and their expectations for the short-term suggest the economy will continue expanding at its current pace.”
The Conference Board’s Consumer Confidence Index registered 119.8 in September (1985=100), down from 120.4 in August. Consumers’ assessment of current conditions moderated in September. Those saying business conditions are “good” decreased slightly from 34.5 percent to 33.9 percent, while those saying business conditions are “bad” increased from 13.2 percent to 13.8 percent.
Consumers’ optimism about the short-term outlook was somewhat better in September. The percentage of consumers expecting business conditions to improve over the next six months rose slightly from 19.8 percent to 20.2 percent, but those expecting business conditions to worsen increased from 8.0 percent to 9.9 percent.
Tim Triplett
Read more from Tim TriplettLatest in Economy
ISM September survey captures deepening manufacturing gloom
The Institute for Supply Management’s (ISM) latest monthly report on manufacturing reflects a bleak view of American industry in September.
Key industries concerned over government shutdown’s impact on steel, manufacturing
Trade groups cautioned that a prolonged shutdown could strain US industry.
Chicago Business Barometer catches cold winds of contraction in September
The Chicago Business Barometer's September reading indicates a softening in overall business activity in the Midwest for the third consecutive month, with new orders and backlogs retreating further.
Metalforming market sentiment takes a dive in September: PMA
Metalforming manufacturers anticipate a decrease in near-term conditions, according to the Precision Metalforming Association's (PMA) Business Conditions Report for September.
AIA: Architecture firms still under pressure
Architecture firms reported a modest improvement in billings through August, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.