Confidence down for September
October 25, 2005-- Home Textiles Today,
NEW YORK -- Hit by hurricanes, gas prices and a softer job market, consumer confidence unexpectedly fell in September for a second straight month, declining 2.9 percent to a reading of 85, down from 87.5 in September.
The key barometer of consumer sentiment -- and future consumer spending -- has now fallen 19.4 percent during the past two months, from a 13-month high of 105.5 set in August, to its lowest level in more than a year.
The Conference Board said the plunging numbers could indicate that consumers will curtail their Christmas shopping, putting retailer profits under pressure during the holiday season.
Related Content By Author
Industry Related Content
Live from New York Textiles Market: Day 3