American Consumer Confidence Falls to 81.9, Lowest in 12 Years

American consumer confidence fell to 81.9 in September, the lowest level since April 2014. High prices and rising fuel costs are weighing on household confidence. 28.4 percent of Americans expect fewer available jobs in the next six months. The figures come from The Conference Board, which monthly surveys Americans' opinions on the economy, their finances, and employment. Households are rating both the current situation and expectations for the coming months more pessimistically, following a decline in the previous two months. Despite the drop, this does not mean the economy is shrinking; the survey measures people's perceptions. Households are particularly concerned about the high costs of goods and services, as well as rising fuel prices. Expectations regarding personal income are also becoming less positive, although there are still more people expecting an increase than a decrease. Households plan to spend less on services such as hotel stays and cinema visits. The cryptocurrency market is watching these figures, as lower consumer spending could slow economic growth, which might prompt the central bank to lower interest rates. A lower interest rate makes saving less attractive and borrowing cheaper, which could lead to more investments in assets like bitcoin. The U.S. jobs report will be released on Friday and will provide insight into the employment situation.

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