Consumer Confidence in the US Declined in August

According to survey results conducted by The Conference Board, consumer confidence in the US fell by 0.8 points to 89.4 in August.

Change in the Consumer Confidence Index

According to survey data conducted by The Conference Board, consumer confidence in the US experienced a decrease of 0.8 points in August. With this drop, the index declined to the level of 89.4.

In July, the confidence index was measured at 90.2. On the other hand, the market expectation of Bloomberg analysts for this period was also at the level of 90.2.

Present Situation and Expectations Index

The Present Situation Index, in which consumers evaluate current business and labor market conditions, recovered after three consecutive months of declines and rose by 6.8 points to 121.2.

In contrast, the Expectations Index, reflecting consumers' short-term expectations regarding income, business, and the labor market, fell by 5.8 points to 68.2.

Expert Evaluations and Outlook

Dana M. Peterson, Chief Economist at The Conference Board, stated that consumer confidence experienced a slight decline for the second consecutive month in August.

Peterson stated that the expectations index slid further into negative territory, but this situation was balanced by the moderate increase in the present situation index.