Consumer confidence drops in August
Consumer confidence fell by the most in 10 months this August, Bloomberg reported.
As households grew more pessimistic about their employment prospects and the economic outlook, the Conference Board’s consumer confidence index decreased to 60.6 from 65.4 in July.
“The labor market is still relatively weak,” Jim O’Sullivan, chief U.S. economist for High Frequency Economics Ltd., told Bloomberg.
“There’s a lot of uncertainty about policy ahead of the election” and fuel costs have accelerated, he said. This month’s confidence reading was the lowest since November.
Trending News
