US consumer confidence tumbles in September as American anxiety about the future grows

By MATT OTT
AP Business Writer

WASHINGTON (AP) — The American consumer is feeling less confident this month, particularly about the future, as expectations persist that interest rates will remain elevated for an extended period. The Conference Board, a business research group, said its consumer confidence index fell to 103 in September from 108.7 in August. Analysts were expecting a smaller decrease, to a reading of 105. Most troubling was the decline in the index measuring consumers’ view of future expectations, which tumbled to 73.7 in September from 83.3 in August. Readings below 80 for future expectations historically signal a recession within a year.