General
US consumer confidence eases in August as labor market worries mount
Reuters
Synopsis
U.S. consumer confidence experienced a slight dip in August, according to the Conference Board. The decline was attributed to increasing pessimism among households regarding the labor market and future income prospects. Consumers’ assessment of current job availability decreased for the eighth consecutive month, contributing to the overall sentiment.
iStockUS consumer confidence slipped in August as households grew more pessimistic about the labor market and future income. The Conference Board said on Tuesday its consumer confidence index fell to 97.4 this month from an upwardly revised 98.7 in July. Economists polled by Reuters had forecast the index easing to 96.2 from the previously reported 97.2.
“Notably, consumers’ appraisal of current job availability declined for the eighth consecutive month,” said Stephanie Guichard, senior economist, global indicators at the Conference Board. “Meanwhile, pessimism about future job availability inched up and optimism about future income faded slightly.”