US consumer confidence hits lowest level since 2014 in September

US consumer confidence fell to its lowest level since 2014 in September, as anxiety over the economy and the labor market continued to weigh on households.

The Conference Board, a US business research organization, said Tuesday (local time) that its consumer confidence index dropped 6.7 points to 81.9 in September (1985=100), down from 88.6 in August. The reading came in well below the consensus forecast of 89 compiled by Dow Jones.

Breaking down the components, the present situation index — which reflects current business and labor market conditions — fell 7.9 points to 109.3. The expectations index, which captures consumers' short-term outlook, slipped 5.9 points to 63.6, extending its losing streak to three consecutive months.

Dana Peterson, chief economist at the Conference Board, said consumer confidence "deteriorated sharply in September after slowing for two consecutive months." She added that consumers' assessment of current business conditions turned "negative" for the first time since 2024, while their view of the labor market also worsened, though it remained "positive."

"Over the next six months, consumers expect business conditions and markets to worsen," Peterson said. She noted that consumer responses citing prices, the high cost of goods and services, and oil and gas reached their highest levels in the survey.

The survey was conducted online from Sept. 1 to Sept. 23 among a consumer panel of more than 36 million people.