Consumer Confidence Index falls to nine-month low

Consumer confidence fell for the third month in a row in August, declining to its lowest level since November 2001, a private research group reported Tuesday.

The New York-based Conference Board said its Consumer Confidence Index fell to 93.5 from a revised 97.4 in July.

The August index is at a level that points "to a continued, but slow, economic expansion," the Conference Board said in a written release.