Consumer outlook plunges in September as inflation outlook worsens
US consumer confidence dropped to its lowest level since 2014 in September, driven by rising fuel costs and worsening inflation expectations. The Conference Board Consumer Confidence Index deteriorated notably, with Americans' views on the economy sinking amid elevated gas prices and stagnant wages. This decline coincides with high fuel costs and trade tensions that strained consumer budgets.
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- β Consumer confidence plunged to its lowest level since 2014 in September.
- β Rising fuel costs and worsening inflation expectations drove the decline in consumer confidence.
- β The Conference Board Consumer Confidence Index deteriorated notably in September.
- β US households face declining sentiment due to rising gas prices and worsening inflation expectations.
What changed
The Conference Board reported a notable deterioration in consumer confidence for September, with the index reaching its lowest level since 2014.
Live updates
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Consumer confidence plunges to 12-year low as inflation worries intensify
US consumer confidence dropped to its lowest level since 2014 in September, driven by rising fuel costs and worsening inflation expectations. The Conference Board Consumer Confidence Index deteriorated notably, with Americans' views on the economy sinking amid elevated gas prices and stagnant wages. This decline coincides with high fuel costs and trade tensions that strained consumer budgets.
Why it matters
The current economic pressure is part of a broader trend of rising costs for essential goods and services across the country. The Federal Open Market Committee is expected to raise interest rates, with a probability exceeding 90%. Consumer sentiment has been impacted by various factors, including the ongoing Iran war and its effects on oil prices.
What is confirmed
- Consumer confidence plunged to its lowest level since 2014 in September.
- Rising fuel costs and worsening inflation expectations drove the decline in consumer confidence.
- The Conference Board Consumer Confidence Index deteriorated notably in September.
- US households face declining sentiment due to rising gas prices and worsening inflation expectations.
Still unconfirmed
- Peter Schiff predicts an economic downturn and higher oil prices.
What to watch next
- Federal Open Market Committee interest rate decision
- October consumer confidence reports
- US inflation rate for September
confidence 85%Sources used for this update (16)
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- www.bostonherald.com β Americansβ view of the economy sinks to the lowest level since 2014, Conference Board survey says
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- finance.yahoo.com β Consumer confidence plunged in September: Conference Board
- finance.yahoo.com β Consumer confidence plunges to lowest level since 2014: Conference Board
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- www.ibtimes.com β Inflationary Pressures Keep Growing. Consumer Confidence Is Dropping Further. | IBTimes
- www.theepochtimes.com β US Consumer Sentiment Remains Near Historically Weak Lows: UMich | The Epoch Times
- www.ibtimes.com β Bond Yields Kept Climbing And Consumer Confidence Plummeted. Stocks Edged Down. | IBTimes
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Consumer sentiment drops as inflation fears grow before FOMC rate decision
US households face declining sentiment in September due to rising gas prices and worsening inflation expectations. Traders expect the Federal Open Market Committee to raise the overnight funds rate by a quarter point today, with a probability exceeding 90%. This follows a period of high fuel costs and trade tensions in August that strained consumer budgets. The current economic pressure coincides with a broader trend of rising costs for essential goods and services across the country.
Why it matters
The Federal Open Market Committee's decision on the overnight funds rate directly impacts borrowing costs for consumers and businesses. Persistent inflation and high energy prices can lead to a cycle of reduced spending and further rate hikes to stabilize the economy.
What to watch next
- The official FOMC announcement regarding the overnight funds rate
- Updated consumer sentiment data for late September
confidence 100%Sources used for this update (3)
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Fed rate hike expected as consumer outlook drops
Traders expect the Federal Open Market Committee to raise the overnight funds rate by a quarter point today, with a probability exceeding 90%. This potential hike follows a sharp decline in consumer sentiment during September. Households are currently facing pressure from rising gas prices and worsening inflation expectations. This shift comes after a period described by Salon.com as brutal for consumers in August, as trade tensions and fuel costs continue to strain budgets.
Why it matters
The Federal Reserve's decision on interest rates directly impacts borrowing costs for consumers already struggling with the cost of living. These monetary policy shifts occur against a backdrop of rising public concern over the trajectory of price increases.
Still unconfirmed
- Traders have assigned a better than 90% probability that the FOMC will vote to raise the overnight funds rate a quarter point.
What to watch next
- The official FOMC vote on the overnight funds rate
- New Michigan Survey data on consumer sentiment
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US Consumer Sentiment Drops in September Amid Inflation Fears
Consumer sentiment declined in September as rising gas prices and worsening inflation expectations pressured household budgets. Data from the Michigan Survey indicates a plunge in the consumer outlook. Higher fuel costs and trade tensions contributed to the slide, following a period that Salon.com described as brutal for consumers in August. The downturn reflects growing public concern over the cost of living and the trajectory of price increases.
Why it matters
Consumer sentiment serves as a leading indicator for household spending and broader economic health. Persistent inflation expectations can lead to a self-fulfilling cycle of price hikes. Trade tensions add further uncertainty to the stability of consumer prices.
What is confirmed
- Consumer sentiment decreased in September according to the Michigan Survey.
- Rising gas prices contributed to the fall in consumer sentiment.
- Inflation expectations increased in September.
Still unconfirmed
- Trade tensions contributed to the slide in US consumer sentiment.
- August was brutal for consumers.
What to watch next
- Official government inflation data releases
- Changes in global oil prices affecting gas costs
- Updates on trade policy negotiations
confidence 90%Sources used for this update (5)
- CNBC β Consumer outlook plunges in September as inflation outlook worsens
- WSJ β Consumer Sentiment Is Lower in September, per Michigan Survey
- Salon.com β August was brutal for consumers. September could be worse
- Yahoo Finance β Consumer sentiment falls as rising gas prices weigh on wallets, inflation expectations tick up
- Bloomberg.com β US Consumer Sentiment Slides on Higher Gas, Trade Tensions
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