U.S. consumer confidence deteriorated for a third straight month in September, sinking to the lowest level in more than 12 years, according to survey results released Tuesday by The Conference Board, a U.S. research organization.
The Consumer Confidence Index fell to 81.9 in September from 88.6 in August, the lowest reading in the Board's survey since April 2014.
Consumer sentiment has been weighed down by Federal Reserve interest rate hikes and ongoing geopolitical tensions. The decline also signals a notable acceleration in household pessimism after two consecutive months of softening sentiment.
Both components of the index trended downward. The Present Situation Index, which tracks consumers' assessments of current business and labor market conditions, fell sharply by 7.9 points to 109.3. The Expectations Index, which measures consumers' short-term outlook for income, business and labor market conditions, declined by 5.9 points to 63.6.
Consumers' views of current business conditions turned negative for the first time since September 2024, while perceptions of the labor market also worsened, according to Dana M. Peterson, chief economist at the board. Looking ahead, consumers expected both business conditions and the labor market to weaken over the next six months, Peterson said.
Consumers also expressed growing concern about prices. References to the high cost of goods and services, particularly oil and gas, rose to new highs in September amid a surge in fuel costs, said the economist.
The preliminary results of the online Consumer Confidence Survey cover the period from September 1 to 23.
U.S. September consumer confidence sinks to lowest level in over 12 years: survey
U.S. September consumer confidence sinks to lowest level in over 12 years: survey
China's tourism sector is gearing up for a booming influx of international visitors as the National Day holiday kicks off on Thursday, driven by relaxed visa policies and soaring overseas interest.
In the southwestern province of Sichuan, curated boutique travel routes are offering international tourists immersive experiences, highlighting local attractions ranging from snow-capped mountains and giant pandas to intangible cultural heritage and local cuisine.
According to forecasts by the Sichuan General Station of Exit and Entry Frontier Inspection, the total volume of inbound and outbound travelers at Chengdu’s two major airports -- Tianfu and Shuangliu -- is expected to exceed 150,000 during this year's National Day holiday. The daily average throughput is projected at 21,000 travelers, with a peak daily volume of 22,000 expected on the first day of the holiday.
"This is my first time in China. I always wanted to visit China. I want to make a big trip in China. I'm in Chengdu right now and I want to see the pandas, and I also want to try Sichuan cuisine," said a tourist from Russia.
Meanwhile, eastern China's coastal hubs are experiencing a parallel boom. According to the Shandong General Station of Exit and Entry Frontier Inspection, ports across Shandong Province are expected to handle 142,000 inbound and outbound travelers during the holiday, marking a 27.3 percent increase year on year. Driven by the continuous policy dividends of China's expanding visa-free transit policies, cities including Jinan, Qingdao and Yantai are seeing peak travel flows. In Weihai, located at the eastern tip of the Shandong Peninsula, tourism momentum has carried over from the summer season, marked by a noticeable rise in travelers opting for ferry routes between China and South Korea. The dozen-hour maritime passage has emerged as a popular choice for tourists commuting between the two countries. "It is very convenient, the customs clearance process is smooth, and the staff are very enthusiastic. Weihai is very clean," said a tourist from South Korea.
China's border authorities are ramping up operational capacity to manage the heavy foot traffic.
"During the holiday, we have increased the number of inspection lanes, optimized duty arrangements, and deployed staff in advance to direct passenger flows. Meanwhile, we continue to implement measures to facilitate convenient customs clearance, ensuring efficient and smooth operations at the port," said Guo Xu, head of the first inspection team at the Weihai border inspection station.
China braces for inbound travel surge during National Day Holiday
