Index dropped to 81.9 in September as Americans expressed growing concerns about jobs, prices and the economic outlook
Americans are becoming increasingly concerned about the economy, with consumer confidence falling sharply in September to its lowest level since 2014.
The Conference Board’s Consumer Confidence Index dropped 6.7 points, from 88.6 in August to 81.9 in September.
The reading came in well below expectations from economists surveyed by Reuters, who had forecast 89.2.
Americans are increasingly concerned about the job market
The survey showed deterioration in both consumers’ assessment of current economic conditions and their expectations for the months ahead.
The index measuring consumers’ views of current business and labor market conditions fell to 109.3. The Expectations Index, which measures the short-term outlook for income, business and employment conditions, declined for a third consecutive month to 63.6.
According to The Conference Board, consumers’ assessment of current business conditions turned negative for the first time since September 2024.
Job openings also declined
Another report released Tuesday added to concerns about the labor market.
The number of job openings in the United States fell by 256,000 to approximately 7.08 million, according to data cited by Reuters.
At the same time, elevated prices, interest rates and borrowing costs continue to put pressure on household budgets.
The Conference Board survey was conducted between September 1 and September 23 and showed weakening confidence across different groups of American consumers.
Sources: Reuters and The Conference Board.
