US consumer confidence falls to lowest since 2014

US consumer confidence fell to its lowest level since 2014 in September. The Conference Board’s index dropped 6.7 points to 81.9. The Present Situation Index fell 7.9 points to 109.3. The Expectations Index dropped 5.9 points to 63.6. The board said consumers are worried about prices, inflation and the job market. Dana Peterson, the board’s chief economist, said expectations for income and business conditions weakened. High prices and fuel costs were the top concerns. The reading points to caution ahead of the holiday shopping season. Consumer spending drives about two-thirds of the US economy. The September survey was conducted over five days. The drop follows several months of weakening sentiment. Economists say the data raises the risk of slower growth. Consumer spending drives about two-thirds of the US economy. The September survey was conducted over five days. The drop follows months of weakening sentiment. Economists say the data raises the risk of slower growth ahead.
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