By Robert Hughes
The Consumer Confidence Index from The Conference Board fell in September, decreasing by 9.1 points to 125.1. The index is constructed so that it equals 100 in 1985. Overall consumer confidence is just 0.2 points above the March 2017 reading of 124.9, trending essentially flat over the last two-and-a-half years, averaging 127.1 (see top chart). Compared to history, the level of the index remains high.
Both components of the index posted declines for the month. The present-situation component fell 7.0 points to 169.0, versus a 30-month average of 161.1, while the expectations