US consumer confidence sinks to 12-year low over inflation, stagnant wages

US consumer confidence has fallen to its lowest level in more than 12 years, according to the Conference Board's index, which dropped 6.7 points to 81.9 in September. This decline is largely due to concerns over inflation and stagnant wages. The decrease in confidence is significant because it can impact consumer spending, which is a major driver of the US economy. As a result, this decline may have a ripple effect on the overall economy and markets.

Why it matters

US consumer confidence has fallen to a 12-year low due to high inflation and stagnant wages. This could lead to reduced consumer spending and lower economic growth.

Market impact

Markets & countries in focus

Transmission channels

Likely winners & losers

Explore the intelligence

MeridStreet does not reproduce source articles. The summary and analysis above are generated by MeridStreet from public headlines and its own market model; the original reporting belongs to South China Morning Post. For information only — not financial advice.