According to the Conference Board Consumer Confidence Index, conducted for research company TNS, consumer confidence is inching downward once more. The two conditions tested include The Present Situation Index and The Expectations Index, both of which showed a decline in a monthly comparison.

Lynn France, Director of The Conference Board Consumer Research Center stated, Septembers pull-back in confidence was due to less favorable business and labor market conditions, coupled with a more pessimistic short-term outlook. Overall, consumers confidence in the state of the economy remains quite grim. And, with so few expecting conditions to improve in the near term, the pace of economic growth is not likely to pick up in the coming months.

The Confidence Index dropped to 48.5 from 53.2 in August; however the cutoff date for September's results was September 21, 2010. The survey is based on a "representative sample" of 5,000 households across the nation.