The U.S. Consumer Confidence Index has dropped to a 5-month low.

Jin10 data reported on September 30: The consumer confidence index in the U.S. fell to a 5-month low in September due to concerns that the labor market and overall economy are cooling. The Conference Board's consumer confidence index for September declined by 3.6 points to 94.2, with the median economist expectation at 96. The present situation index dropped by 7 points, reaching its lowest level in a year, while the indicator measuring expectations for the next six months also showed a decline. Over the past few months, the consumer confidence index has mostly been fluctuating, as consumers face various contradictions such as slowing hiring, persistently high inflation, and record stock prices. Despite the subdued consumer confidence compared to earlier this year, consumer spending has proven to be resilient and continues to drive the economy forward. Earlier this month, the Fed implemented its first interest rate cut of the year to prevent the deterioration of the labor market described by Fed Chairman Powell as “low hiring, low firing.”