Consumer Confidence Worsens in September

U.S. consumer confidence fell in September, according to the Conference Board's monthly consumer sentiment index released Tuesday.

The index for the month dropped to a reading of 53.1, down from a revised 54.5 reading in August. It reached a record low of 25.3 in February.

Economists had forecast that the confidence index would rise to 57 this month.

An improvement in confidence may increase consumer spending, which accounts for 70% of the economy.