US Consumer Confidence Falls to 81.9 in September, Lowest Since 2014
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The Conference Board, a leading private US research organization, reported on the 29th that its September consumer confidence index came in at 81.9, down sharply from 88.6 the previous month. According to Reuters, this is the lowest level since 2014 and also fell short of the market forecast of 89.2. The survey was conducted from September 1 to 23. The present situation index fell 7.9 points from the previous month to 109.3, while the expectations index dropped 5.9 points to 63.6, marking a third consecutive monthly decline. Chief economist Dana Peterson noted that while household income growth is expected, the anticipated pace of increase has narrowed compared with the previous month, and respondents generally expressed a pessimistic view regarding high prices for goods and services and soaring fuel prices. On economic conditions, those saying conditions are "good" fell to 18.5 percent, while those saying they are "bad" rose to 20.4 percent. On employment, those saying jobs are "plentiful" fell to 23.6 percent, while those saying jobs are "hard to get" rose to 21.9 percent. For the economic outlook over the next six months, those expecting improvement fell to 15.9 percent, while those expecting deterioration rose to 25.4 percent.