Consumer confidence still low

Consumer confidence rose slightly in September, according to a survey conducted by researchers at the University of Florida, but is still just five points away from a record low set in June 2008.

The university's consumer confidence index for September is at 64, only slightly higher than the record low of 59.

Chris McCarty, director of UF's Bureau of Economic and Business Research and Survey Research Center, attributed the September gains in confidence to a rebound from August lows rather than any substantially positive economic events.

McCarty expects confidence to remain low until next year, saying that events set to take place Nov. 23 — the deadline for Congress' deficit reduction super-commission to issue a new plan — will “again shake consumer confidence.”

University researchers contacted 410 respondents for its September results. The index is benchmarked to 1966, has a high of 150, and a low of 2.