Close Menu
    Facebook X (Twitter) Instagram
    Pro Magzine
    • Home
    • News
      • Top Stories
      • USA
    • Entertainment
      • Movies
      • Celebrity
      • Web series
      • Net worth
    • Business
    • Health
      • Fitness
      • Food & Drink
    • Lifestyle
      • Tattoos
      • Fashion
      • Love & Relationship
      • Messages
      • Sports
      • Travel
    • Tech
      • Internet
      • Gaming
      • SEO
      • Software
      • Tips
    • More
      • Trending
      • Crypto
      • Dogecoin
      • Pets
      • Real Estate
    Pro Magzine
    Home»Business»US consumer sentiment is at its lowest level in four months.

    US consumer sentiment is at its lowest level in four months.

    EmilyeBy EmilyeSeptember 26, 2023No Comments2 Mins Read
    US consumer sentiment is at its lowest level in four months.

    US consumer sentiment is at its lowest level in four months. According to data released on Tuesday, the critical economic indicator fell to its lowest level in four months in September. Rising petroleum prices and high-interest rates increased economic uncertainty and dampened consumer confidence.

    The Conference Board’s Consumer Confidence Index declined for a second consecutive month in September, falling to 103 from an upwardly revised 108.7 in August. According to data from the Conference Board, the index is at its second-lowest level of the year, just above May’s reading of 102.5.

    Read more: Russia Lifts Export Ban On Low-Quality Diesel.

    Dana Peterson, the chief economist at the Conference Board, stated, “Consumers continued to be concerned about rising prices in general and for groceries and gasoline in particular.” Additionally, consumers expressed concern about the political climate and rising interest rates. The decline in consumer confidence was observable across all age categories, but especially among those with household incomes of $50,000 or more.

    Peterson noted that the business organization’s ” Expectations Index ” fell below 80 — a threshold often indicating an impending recession — to 73.7, reflecting less optimism regarding future business conditions, job availability, and incomes.

    She stated, “Consumers may hear more bad news about corporate earnings while job openings are shrinking and interest rates continue to rise, increasing the price of expensive items.” “Interest rate forecasts decreased in September after surging the previous month, but stock price forecasts continued to decline.”

    After declining in August, the proportion of consumers who believe a recession is “somewhat likely” or “very likely” increased in September.

    Headwinds are increasing as still-high inflation, decades-high interest rates, rising credit card debt, a declining labor market, and the return of student loan payments continue to weigh on consumers.

    According to a Tuesday commentary by Matthew Martin, US economist for Oxford Economics, the most recent reading from the Conference Board reinforces expectations that consumers will reduce spending in the fourth quarter of this year.

    Consumer spending is a crucial driver of economic development in the United States.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Emilye

    Related Posts

    The Secret to Scaling: CRM by Rocket and the Future of Smart Business Management

    April 13, 2025

    How a Virtual Receptionist Service Can Save Your Business Time and Money

    April 3, 2025

    How to Purchase a BTS Property in the Second-Hand Market

    March 11, 2025
    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    Top Posts

    Edge AI Solution for Traffic Management with NVIDIA Jetson AGX Orin

    May 4, 20257 Views

    Soft Semiconductors: Designing for Flexibility Without Performance Trade-Offs

    April 29, 20258 Views

    The Complete Guide to Buying Central Vacuum Systems Online

    April 24, 202513 Views

    Reasons Why a Meditation Retreat in Malaysia Should Be Your Next Getaway

    April 14, 20257 Views

    The Secret to Scaling: CRM by Rocket and the Future of Smart Business Management

    April 13, 202516 Views

    Maximize Your Hunting Success with the Right Gear and Equipment

    April 3, 20255 Views

    Impact of New Tariffs on the Cosmetics Industry and How Innovative Solutions Address the Challenges

    April 3, 202541 Views

    AI-Driven Government Proposal Analytics: Turning Data Into Competitive Advantage

    April 3, 202516 Views

    How a Virtual Receptionist Service Can Save Your Business Time and Money

    April 3, 202513 Views

    The Ultimate Guide to Renting a Charter Bus: Everything You Need to Know Before You Book

    April 3, 20258 Views
    • Home
    • Privacy Policy
    • About Us
    • Disclaimer
    • Contact Us
    © 2025 Pro Magzine. Designed by GP.

    Type above and press Enter to search. Press Esc to cancel.