The Conference Board Consumer Confidence Index dropped to 98.7 in September, down from an upwardly revised 105.6 in August. The present situation Index, which reflects consumers’ views on current business and labor market conditions, fell by 10.3 points to 124.3. Meanwhile, the expectations Index, assessing consumers’ short-term outlook for income, business, and labor conditions, decreased by 4.6 points to 81.7, although it remained above the 80 mark.September’s decline marked the largest drop since August 2021, with all five components of the Index showing deterioration.
