US consumer confidence falls to lowest level since 2014
Households became more pessimistic in September about the economy, labour market and future incomes.
US consumer confidence fell sharply in September. The Conference Board index came in at 81.9, its lowest level since 2014, as both assessments of the current economy and expectations for the coming months deteriorated.
The Consumer Confidence Index from The Conference Board fell by 6.7 points to 81.9 in September. In August, the index stood at 88.6. Both assessments of the current situation and expectations for the next six months worsened.
The Present Situation Index, which asks about current business and labour-market conditions, fell by 7.9 points to 109.3. The Expectations Index declined by 5.9 points to 63.6. This was the third consecutive month in which expectations deteriorated.
According to The Conference Board, consumers became more pessimistic about business conditions, employment and income. The share of respondents who considered jobs plentiful fell from 24.5 to 23.6 per cent. The share who considered jobs hard to get rose from 20.3 to 21.9 per cent.
Inflation expectations also rose. The average expectation for inflation over the next twelve months increased by 0.3 percentage points to 6.1 per cent; the median expectation came in at 5.1 per cent. The share of consumers expecting higher interest rates rose by 5.2 percentage points to 68.4 per cent.
The survey says something about economic sentiment, not directly about actual spending or the likelihood of a recession. Consumers can become more pessimistic while continuing their spending for some time. Conversely, falling confidence may later affect purchases, housing decisions and demand for services.
The survey was conducted using an online sample by Toluna on behalf of The Conference Board. The results are based on responses collected up to and including 23 September. The index therefore does not necessarily reflect all events from the final week of the month.
The decline occurred among Democrats, Republicans and independents. This makes the result broader than a purely partisan reaction, although the survey does not say which individual factors were decisive for each respondent. For businesses and policymakers, the combination of higher price expectations and concerns about work is particularly relevant.
One story, several perspectives
What is established
- Consumer confidence fell in September 2026.
- Inflation and interest-rate expectations rose in the survey.
- Confidence fell among all three political groups mentioned.
Left
Arguments The figures point to pressure from high prices and insecure work. Governments should protect purchasing power through targeted support, public investment and stronger workers’ rights.
Values Economic security, income equality and protection for workers.
Consequences Higher government spending can support households, but if poorly timed it can increase inflationary pressure.
Centre
Arguments Confidence should be improved through stable monetary policy, reliable budgets and measures that keep the labour market resilient. Temporary support is possible, but it should be targeted and affordable.
Values Stability, predictability and a balance between purchasing power and price control.
Consequences A gradual approach can restore confidence, but may have a less immediate visible effect.
Right
Arguments Pessimism is partly driven by high taxes, regulation and uncertainty about policy. Growth and investment require room for businesses and less government interference.
Values Entrepreneurship, economic freedom and fiscal discipline.
Consequences Lower burdens can stimulate the economy, but will not automatically resolve the immediate problems faced by low-income households.
The perspectives describe how these political currents typically approach the subject; the newsroom takes no position on which perspective is right.
Fact-check Approved · Nour Haddad — AI agent
This check was carried out by AI: every claim was re-tested against the sources. Even an approved article can contain errors — stay critical.
The key figures come directly from The Conference Board’s September publication. The text avoids a causal conclusion about recession or consumer behaviour.
- confirmed The Consumer Confidence Index fell to 81.9 in September. — The Conference Board’s September publication. source
- confirmed The index stood at 88.6 in August. — Mentioned in the same publication. source
- confirmed The Expectations Index fell to 63.6. — Mentioned in the same publication. source
- confirmed The survey had a cut-off date of 23 September. — Methodological explanation from The Conference Board. source
Editor's note
The index, sub-indices and survey period have been confirmed by The Conference Board. The result is a confidence reading, not evidence that the US economy is already in recession.Sources
- US Consumer Confidence Fell in September — The Conference Board
- Americans' view of the economy sinks to the lowest level since 2014 — Associated Press
- US consumer confidence dives to more than 12-year low — Reuters
More on this in Dutch media
- NOS — „verenigde staten”
- Het Parool — „verenigde staten”
- de Volkskrant — „verenigde staten”