BUSINESS BRIEFING / THE ECONOMY
Concerns that consumers won’t help drive a speedy and strong economic recovery escalated after a widely watched barometer of confidence fell unexpectedly this month.
The Conference Board said its consumer confidence index dropped to 53.1 in September, down from a revised 54.5 in August. Economists surveyed by Thomson Reuters had expected a reading of 57.
Among the worrisome signs in the Conference Board’s release were that shoppers’ spending intentions declined for big-ticket purchases: cars, homes and major appliances.
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