New York – Locally based The Conference Board’s Consumer Confidence Index for September suffered its largest monthly drop since October of 1990.
The index stands at 97.6, compared to 114.0 in August, which declined from July. In the minds of the average consumer, American business is down and jobs are harder to find.
Consumers rating business conditions as "favorable" fell from 27.7% to 22.0%. Consumers claiming jobs are "hard to get" increased from 17.7% to 21.9%. The survey is based on a sample of 5,000 households.