Consumer confidence in the U.S. fell to a nine-month low this month, according to a U.S. survey. Consumers mainly fear recession in the future.

According to the Conference Board of Market Analysts, US consumer confidence fell to 101.3 in April, the lowest level since July last year. This is lower than expected by market experts.

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Americans over 55 and households with annual incomes above $50,000 are particularly in the dark. Consumers expect market conditions for businesses to worsen in the coming six months. Employment opportunities are also expected to decline.

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Economists believe pessimism will take pressure off the US Federal Reserve to raise interest rates further next week. This is the tenth consecutive rate hike to bring inflation under control.