This should be considered positive news, right? The consumer confidence index in September hit a 12-year low.
The Conference Board's Consumer Confidence Index was released at 81.9, far below 89.2, marking the lowest consumer confidence since March 2014.
Even during the 2020 pandemic, it was somewhat higher than now.
The previous value was also revised from 89.4 to 88.6.
This indicates weakened demand, which can partially offset the impact of rising oil prices on inflation. September's CPI might be a bit stronger than expected, but we still need to observe the wage data released on the same day as the non-farm payroll report.
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