The US Consumer Sentiment Index is at its lowest level since 2014

US consumer confidence fell to 81.9 points in September, the lowest level since April 2014. The Conference Board's index dropped by 6.7 points over the month, while economists had expected 89.2 points.

Consumer sentiment deteriorated across groups with different income levels, ages, and political views. Respondents expect business conditions and the labor market to worsen over the next six months.

Only 23.6% believe there are enough jobs available. This is the lowest reading since February 2021. At the same time, 21.9% say jobs are hard to find, the highest figure since January 2021.

In August, the number of job openings in the US fell by 256 thousand to 7.079 million. Consumer sentiment is being weighed down by high prices for energy, food, and mortgages. Additional pressure on prices has come from the ongoing conflict in the Middle East, against which backdrop the Fed raised its interest rate in September for the first time in three years.

Source: Reuters