Consumer confidence in the United States has experienced significant fluctuations throughout 2024.
In January 2024, the Consumer Confidence Index reached 114.8, the highest level since December 2021. However, by September 2024, the index had plummeted sharply to 98.7, marking the largest drop since August 2021, driven by concerns over the labor market and inflation.
By October 2024, consumer confidence surged to 108.7, the largest monthly increase since March 2021, fueled by positive perceptions of the labor market. This positive trend continued into November 2024, with the index reaching 111.7, the highest level in nearly three years, reflecting consumer optimism about job prospects and declining inflation expectations.
Overall, despite the drop in September, U.S. consumer confidence showed strong recovery by the end of 2024, highlighting optimism toward economic conditions and the labor market.