Consumer confidence in September plunged to the lowest level since April 2014 as consumers grew more pessimistic about current conditions and the economic outlook. This report captured consumer sentiment following the Fed’s first rate hike since 2023 and ongoing geopolitical tensions. Consumer views of business conditions turned negative for the first time in two years, while the labor market outlook continued to worsen. The labor market differential, which measures the gap between consumers viewing jobs as plentiful and hard-to-get, remained narrow and reached its lowest level since February 2021. The Consumer Confidence Index, reported by the Conference Board, is a survey measuring how optimistic or pessimistic consumers feel about their financial situation. This index fell from 89.4 to 81.9 in September, the lowest level since April 2014.