U.S. consumer confidence unexpectedly
fell for a second straight month in September amid concern about
hiring and rising oil prices, a private survey found.
“If consumers don’t cheer up, the economy is in danger of
losing traction again,” said Chris Rupkey, senior financial
economist at Bank of Tokyo-Mitsubishi Ltd. in New York.
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The Conference Board’s index dropped to 96.8 from 98.7 in
August. Americans were less confident about current economic
conditions, even as the outlook for the next six months improved,
the New York-based business research group said.
Slower job growth and rising energy prices may damp spending
and restrain growth, with five weeks left before the presidential
election, economists said. The world’s largest economy added
144,000 jobs in August, less than the average 204,000 in the
first six months, and oil reached a record in New York.
Bloomberg News
