Consumer Confidence Index Plummets to 81.9 in September 2023

In September 2023, the Consumer Confidence Index, reported by the Conference Board, decreased to 81.9, falling by 6.7 points and below the Dow Jones forecast of 89. This drop reflects heightened concerns over inflation and a deteriorating job market, with more respondents indicating their personal finances are bad for the first time in four years. Additionally, the Present Situation index fell to 109.3, and the Expectations Index dropped to 63.6, signaling a growing sentiment of pessimism among consumers. This matters for ordinary investors as it indicates shifts in consumer spending behavior, influenced by rising inflation expectations currently at 6.1%.

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