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US consumer confidence hits lowest level in over a decade
The Conference Board said the present situation index fell 7.9 points to 109.3 and the short-term outlook dropped 5.9 points to 63.6.
US consumer confidence fell to its lowest level in more than a decade in September as Americans cited still-elevated prices and stagnant wages, amid the ongoing Iran war, according to reporting by the SCMP Economy citing the Conference Board survey.
The Conference Board said its consumer confidence index dropped 6.7 points to 81.9 in September, down from 88.6 in August, marking the lowest reading in the board’s survey since April 2014.
SCMP Economy also reported that respondents’ views of their present situation fell by 7.9 points to 109.3, while their short-term outlook slid 5.9 points to 63.6.