NEW YORK — U.S. consumer confidence tumbled this month to its lowest level since 2014 as worries about prices weighed on households.
The Conference Board, a U.S. business research group, said on the 29th that its consumer confidence index fell to 81.9 in September, down 6.7 points from 88.6 in August. The reading, based on a 1985 benchmark of 100, came in well below the 89.0 forecast by economists surveyed by Dow Jones and marked the weakest level since April 2014. The survey was conducted from Sept. 1 to Sept. 23.
The present situation index, which reflects consumers' assessment of current business and labor market conditions, dropped 7.9 points to 109.3. The expectations index, which tracks short-term outlooks, fell 5.9 points to 63.6, declining for a third straight month.
"Consumer confidence had softened for two consecutive months, and in September it deteriorated noticeably," said Dana Peterson, chief economist at the Conference Board. "Consumers' assessment of current business conditions turned negative for the first time since 2024, while their views of the labor market remain positive." Peterson added that consumers expect both business conditions and the market to worsen over the next six months, and that they most frequently cited prices, the high cost of goods and services, and oil and gas as factors affecting the economy.
