US consumer confidence hits four-month low

The preliminary reading had been reported at 47.8, while the index stood at 51.7 in August. The current economic conditions index declined to 50.9, while the consumer expectations index dropped to 46.3.

Consumers’ short-term inflation expectations rose from 4% to 4.6%, while long-term inflation expectations increased from 3.3% to 3.4%. The University of Michigan said concerns over the economic impact of higher fuel prices and renewed trade tensions weighed on consumer sentiment.