US Consumer Confidence Drops to Lowest Level Since 2014 in September

According to data released by the Conference Board, the US Consumer Confidence Index decreased by 6.7 points in September to 81.9, reaching its lowest level recorded since 2014.

September Consumer Confidence Index Data

The Conference Board shared the September results of the Consumer Confidence Index, which measures American consumers' tendencies regarding economic conditions.

According to the released data, the Consumer Confidence Index fell by 6.7 points in September compared to the previous month, dropping to 81.9 and recording its lowest level since 2014.

Market Expectations and August Revision

General market expectations were for the index to come in at 89.2 during this period, but the actual figure remained well below this expectation.

On the other hand, the previous month's data for August regarding the Consumer Confidence Index was revised downward from 89.4 to 88.6.

Present Situation and Expectations Index

The Present Situation Index, which reflects American consumers' assessments of current business and labor market conditions, decreased by 7.9 points in September to 109.3.

The Expectations Index, reflecting consumers' short-term evaluations of income, business, and labor market conditions, decreased by 5.9 points in the same period to 63.6.

Recession Expectations and Inflation Rates

While the proportion of consumers believing a recession in the US is somewhat likely over the next 12 months increased, the proportion of those believing a recession is unlikely decreased.

Consumers' 12-month average and median inflation expectations increased by 0.3 points in September to 6.1 percent and 5.1 percent, respectively.

Experts' Evaluations on the Subject

Conference Board Chief Economist Dana Peterson noted that consumer confidence deteriorated significantly in September following the softening experienced in the previous two months.