September’s Consumer Confidence Unexpectedly Dips

September’s consumer confidence fell to 53.1, compared to a consensus forecast of 57.0, and a previous reading of 54.1.  According to the report “Consumer Confidence, which had improved in August, retreated slightly in September. The Present Situation Index decreased, as consumers viewed both current business conditions and the labor market less favorably than last month. While not as pessimistic as earlier this year, consumers remain quite apprehensive about the short-term outlook and their incomes. With the holiday season quickly approaching, this is not very encouraging news.”