US consumer confidence sinks to 12-year low over inflation, stagnant wages
Americans’ confidence in the economy sank to the lowest level in more than a decade this month as prices remain elevated and wages stagnate amid the ongoing Iran war.
The Conference Board said Tuesday that 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 board’s survey since April 2014 and below the lowest level reached during the pandemic.
Respondents’ views of their present situation fell by 7.9 points to 109.3. Their short-term outlook also slid, falling 5.9 points to 63.6.