September consumer confidence down

According to BIGresearch's September Executive Briefing, the battle on Capitol Hill regarding the status of troops in Iraq, the still-slumping housing market, fluctuating pump prices, and apathy toward consumer savings combine to form the perfect storm for negatively impacting consumer confidence.  In September, 41.2% contend they are confident/very confident in chances for a strong economy, down from last month (43.9%) as well as last year (43.4%).  However, confidence remains up significantly from '05 (33.4%), when Hurricane Katrina devastated the Gulf Coast region.

Consumers are feeling more secure...only 16.1% worry about political and national security issues, down almost two points from last month (17.9%), and dropping almost 30 points since the first 9/11 anniversary in 2002 (45.2%).

With the impact of pump prices seemingly decreasing (perhaps offset by the "Charge It!" consumer spending mantra), penny pinching may be going out of style...in September, 43.2% proclaim they focus on needs over wants in spending, down from 46.5% last month and 49.5% in '06.

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