Thanks to our nation’s growth in employment levels, low gas prices and stability in the real estate market, it was expected that consumer confidence would remain steady.
Instead, the index measuring consumer confidence dropped to its lowest mark of the year, from 91.1 in August to 85.7 in mid-September.
So, what gives? Some experts believe this lackluster attitude is in response to the volatility the stock market experienced in August, when the S&P 500 dropped by about 6 percent.
Still, this disappointment on the part of consumers has one upside: They are off the sidelines and keeping a close eye on what happens with their assets.
This is a good reminder that no matter how well off you are, you should never be complacent about your finances. As your financial professional, we consider it part of our role to help clients feel confident about their future.
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