US Consumer Confidence Hits Its Lowest Level Since 2014 - UrduPoint
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US consumer confidence fell to its lowest level since 2014 in September, according to The Conference Board's gauge, which decreased by 6.7 points to 81.9. Consumers attributed this decline primarily to higher costs for goods and services, especially the rise in petrol prices.
"The Consumer Confidence Index deteriorated notably in September... references to prices, the high cost of goods and services, and oil and gas prices in particular, rose to new heights," said Dana M Peterson, chief economist at The Conference Board.
Petrol prices have surged 37 cents over the past month, with the average price for a gallon (3.78 litres) now at $4.45, compared to $4.08 a month ago, according to the American Automobile Association (AAA).