WASHINGTON — Americans’ confidence in the economy sank to the lowest level in more than a decade this month as prices remain elevated and wages stagnate, the Conference Board said Tuesday, with the midterm elections just over a month away.
The business think tank said its consumer confidence index tumbled 6.7 points to 81.9 in September, down from 88.6 in August. That is the lowest reading in the survey since April 2014 and below the lowest level reached during the pandemic, according to the Associated Press.
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. More than 28 percent of respondents told the business think tank that they expect fewer jobs to be available in six months, double the 14 percent who expect more.
“The Consumer Confidence Index deteriorated notably in September, following two prior months of softening,” said Dana Peterson, the Conference Board’s chief economist. She added that consumers’ views of current business conditions turned negative for the first time since September 2024.
Write-in responses collected from September 1 through September 23 were mostly pessimistic, with frequent references to the high cost of gas, goods and services. The government reported that the consumer price index rose 3.4 percent last month compared with a year ago, while costs jumped 0.4 percent from July — quadrupling the 0.1 percent registered in the previous month.
Americans remain flustered by the economy after five years of elevated inflation, potentially posing a risk to President Donald Trump and Republicans in the midterm elections on November 3, the AP reported.
