Americans’ View of the Economy Sinks to the Lowest Level Since 2014, Conference Board Survey Says
The Conference Board said current business views turned negative and the six-month outlook weakened as inflation and labor worries persisted.
- 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.
73 Articles
73 Articles
U.S. consumer morale fell sharply in September to a higher level in the last twelve years.
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.
The U.S. consumer confidence index for September fell to its lowest level since 2014 amid growing anxiety over the economy and the job market. The Conference Board announced on the 29th (local time) that the September consumer confidence index was recorded at 81.9 (based on 1985=100). This is 6.7 points lower than the previous month's 88.6 and significantly below the expert forecast of 89 compiled by Dow Jones. The current business environment a…
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