Consumer confidence fell this month, a likely indication that growing economic uncertainties are taking a toll on American households.
The Conference Board, a business research group, says its consumer confidence index fell to 125.1 in September from a revised August reading of 134.2. Consumers’ assessments of current economic conditions and expectations for the next six months slipped.
The trade war with China and a global slowdown have contributed to uncertainties clouding the progress of the U.S. economy, now in its eleventh year of expansion. Last week, the Federal Reserve cut its benchmark rate by a quarter-point for the second time this year, citing trade conflicts and weaker business investments as key reasons.
This month’s pullback in confidence was greater than economists expected, but remains at a healthy level.