US Consumer Confidence Falls to 81.9 in September, Lowest Reading of 2024
In September, the Conference Board's Consumer Confidence Index decreased by 6.7 points, landing at 81.9, down from 88.6 in August. Both the Present Situation Index and the Expectations Index experienced declines, falling to 109.3 (a drop of 7.9 points) and 63.6 (down 5.9 points), respectively. For the first time since September 2024, negative perceptions of current business conditions reached -1.9%. Inflation expectations rose, averaging 6.1% and a median of 5.1%, with 68.4% of respondents anticipating higher interest rates. More consumers described their finances as "bad" rather than "good," with the most significant decline noted among households earning $125,000 to $149,000. Data was gathered from September 1–23, coinciding with a federal funds rate hike and geopolitical issues. The next report will be released on October 27 at 10 a.m. Eastern.
Key facts
- Consumer Confidence Index fell 6.7 points to 81.9 in September from 88.6 in August
- Present Situation Index dropped 7.9 points to 109.3; net business conditions turned negative at -1.9%, first since September 2024
- Expectations Index fell 5.9 points to 63.6, its third straight monthly decline
- Net labor market expectations for the next six months fell to -14.4%
- Inflation expectations rose to 6.1% average and 5.1% median; 68.4% expect higher interest rates
- More consumers rated family finances "bad" than "good," only the second time in four years
- Vacation intentions rose to 42.6%, entirely from domestic travel as foreign trips declined
- Survey responses were collected September 1–23; next release is Tuesday, October 27 at 10 a.m. Eastern
Entities
Artists
- Dana M. Peterson
Institutions
- The Conference Board
- Toluna
- Federal Reserve
- Conference Board
- Reuters
Locations
- United States
Sources
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- Quartz —