Consumer confidence hits one-year low

Still the lack of job creation is expected to continue hindering spending as economic recovery has showed signs of slowing. 

After increasing in August, consumer expectations for six months from now — a better reflection of where consumer spending is heading — decreased to 59.1, the lowest since March 2009.

About 67 percent of Americans in the Michigan survey said they anticipate “bad financial conditions” in the coming year, according to the report.

The gauge as to whether it's a good time to buy big-ticket items such as cars also increased to 78.4 in September from 78.3 last month.