Consumer confidence falls in the US

The Conference Board announced data for September on the Consumer Confidence Index, which measures trends among American consumers.

Consequently, the consumer confidence index decreased by 5.7 points to 103 in September compared to the previous month.

Consumer confidence, which fell below market expectations, was expected to reach 105.5 in this period. The consumer confidence index was recorded in August at 108.7.

INCREASED 0.4 IN SEPTEMBER

The current situation index, which reflects U.S. consumers’ assessments of current business and labor market conditions, rose 0.4 points to 147.1 in September.

The expectations index, which reflects short-term assessments for the future, decreased in the same period from 9.6 to 73.7.

Thus, expectations were below the value of 80, which is the level that indicates that a recession is expected during the next year.

Conference Board Chief Economist Dana Peterson, whose views were included in the statement, noted that consumer confidence has fallen for two consecutive months and said consumers remain concerned about rising prices in general, especially consumer prices. groceries and gasoline.

Peterson said consumers also expressed concern about the political situation and high interest rates, noting that declining consumer confidence was evident across all age groups. (AA)