Consumer confidence fell to a four-month low in September amid increased economic anxiety.
The Conference Board says its consumer confidence index dropped to 103 this month. That’s the lowest reading since May and down almost 6 points from August.
The index also showed a drop off in future expectations as Americans worry about rising interest rates, gas prices, and, of course, inflation. Conference Board chief economist Dana Peterson says those worries are justified.
Future expectations dropped by almost 10 points in September – down to 73.7. That’s a terrible sign for the economy, as readings below 80 have historically signaled a recession within a year.