US consumer confidence hits its lowest level since 2014 ahead of midterms

Rising goods and fuel costs are cited as key factors in the sharp drop in consumer confidence. United States consumer confidence has fallen to its lowest level since 2014, just over one month before the congressional midterm elections. Consumers pointed to higher costs for goods and services as the primary reason for the decline, according to The Conference Board, which released its monthly report on Tuesday. “The Consumer Confidence Index deteriorated notably in September, following two prior months of softening,” Dana M Peterson, chief economist at The Conference Board, said in a release announcing the report.

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