The Conference Board’s Consumer Confidence Index fell to 81.9 in September from 89.4 in August, its lowest reading since April 2014. According to a National Association of Home Builders analysis, the survey reflected sentiment following the Federal Reserve’s first interest rate hike since 2023, as well as ongoing geopolitical tensions.
Consumers’ view of the job market also weakened: The share that said jobs were “plentiful” fell to 23.6%, the lowest since February 2021, while 21.9% said jobs were “hard to get,” the highest since January 2021.
The share of consumers planning to buy a home within six months rose slightly to 5.4%, with 0.4% planning to buy a newly built home, 2.4% an existing home, and 2.6% undecided.
Read the full report here.
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