ETN News Service, September 30 - The Conference Board reported that the consumer confidence index in September dropped 6.7 points from the previous month to 81.9, significantly below market expectations and reaching the lowest level since 2014; the August index was also revised downward from the previously reported figure to 88.6.

    Sub-category data showed that the present situation index, reflecting current economic and labor market conditions, fell 7.9 points to 109.3, the lowest since 2021; the expectations index declined 5.9 points to 63.6, marking the third consecutive monthly drop, indicating consumers are increasingly pessimistic about the economic and employment outlook for the next six months.

    The survey indicated that consumers' concerns about prices, costs of goods and services, and oil and gas prices have risen to new highs. Data from the American Automobile Association (AAA) showed that as of September 28, the national average price for regular gasoline was approximately $4.48 per gallon, more than $1 higher than the same period last year, and the highest for any comparable period on record.

    However, the labor market has not shown obvious signs of deterioration. The number of job openings in the U.S. fell to 7.08 million in August, but layoffs decreased and the quit rate remained largely stable. (kk)