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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30 Articles
This is the first time that consumer views of current conditions have been on a negative footing since 2024, the Consumer Board's chief economist highlighted, and inflation expectations continue to rise.
US consumer confidence sinks to 12-year low over inflation, stagnant wages
Americans’ confidence in the economy sank to the lowest level in more than a decade this month as prices remain elevated and wages stagnate amid the ongoing Iran war. The Conference Board said Tuesday that its consumer confidence index tumbled 6.7 points to 81.9 in September, down from 88.6 in August. That is the lowest reading in the board’s survey since April 2014 and below the lowest level reached during the pandemic. Respondents’ views of th…
(New York = Yonhap News) Correspondent Kim Yeon-sook = The U.S. consumer sentiment index for September fell to its lowest level since 2014 due to anxiety over the economy and job market...
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