Consumer Confidence Falls As Inflation Concerns Rise

Benzinga

U.S. consumer confidence fell to its lowest since April as inflation fears and job market weakness grew. The Conference Board index dropped to 94.2, with short-term expectations signaling possible recession. Inflation accelerated in August while job growth slowed and unemployment climbed to 4.3%.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02U.S. consumer confidence slipped again in September, falling to its lowest level since

00:06April as concerns over inflation and a weakening job market deepened, according to the AP.

00:11Conference board's index dropped 3.6 points to 94.2, with short-term expectations sliding

00:16to 73.4, level often seen as signaling a recession risk.

00:20Survey responses showed inflation regained the top spot as consumers' main concern,

00:24while tariff measures declined but stayed elevated, conference board said.

00:27The Labor Department reported consumer prices rose 2.9% in August, the largest gain since

00:32January, while core prices held steady at 3.1%.

00:35U.S. employers added just 22,000 jobs in August, after July's 79,000 gain.

00:41The revisions cut 258,000 jobs from May and June.

00:44The unemployment rate rose to 4.3%, the highest since October 2021.

00:48For all things money, visit Benzinga.com.

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