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Consumer Confidence Falls to Lowest Level Since 2014
The Conference Board said households grew more pessimistic about jobs and inflation, with the Expectations Index falling 5.9 points to 63.6.
- On Tuesday, The Conference Board reported the Consumer Confidence Index fell 6.7 points to 81.9 in September, marking the lowest level in more than 12 years.
- Consumers reported deteriorating views on current business and labor market conditions, with write-in responses citing "high cost of goods and services" and oil prices, according to Dana Peterson, Chief Economist at The Conference Board.
- The Present Situation Index retreated 7.9 points to 109.3, while The Expectations Index slipped 5.9 points to 63.6, its third consecutive monthly decline.
- With 68.4% of consumers anticipating higher interest rates over the next 12 months, inflation expectations rose sharply, and net views of family finances turned negative for the second time in four years.
- Concerns over a potential United States recession intensified as 25.4% of consumers expected worsening business conditions, reflecting broader uncertainty amid ongoing geopolitical tensions and the Federal Reserve's recent interest rate hike.
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US consumer confidence plunges to 12-year low as households fear weaker jobs, economy
Consumer confidence in the US experienced a notable decline in September, reaching its lowest level since 2014. This drop suggests households envision a weakening economy and labor market in the coming months. The Conference Board's index fell by 6.7 points, significantly below economists' expectations. While perceptions of the current labor market worsened, they still remained in positive territory for now.
·India
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Coverage Details
Total News Sources26
Leaning Left2Leaning Right5Center4Last UpdatedBias Distribution46% Right
Bias Distribution
- 46% of the sources lean Right
46% Right
L 18%
C 36%
R 46%
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