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US consumer confidence falls to lowest level in 7 months with gas stuck above $4
The Conference Board said the index fell to 89.4 in August as higher gasoline prices and weaker job expectations weighed on consumers.
- On Tuesday, The Conference Board reported consumer confidence dipped to 89.4 in August from 90.2 in July, marking the lowest level in seven months.
- Ongoing conflict in Iran has steadily pushed gasoline prices above $4 per gallon, with consumers citing geopolitical tensions and food costs as primary economic concerns.
- While 27% of consumers say jobs are "plentiful," up from 24.4% in July, only 14.6% expect more jobs available in the next six months, down from 16.4% last month.
- Persistent frustration with five years of elevated inflation poses risks to President Donald Trump and Republicans in midterm elections less than 70 days away, as Trump blames Democrat Joe Biden.
- The government reports July PCE data on Wednesday, a measure the Federal Reserve prefers, with June inflation at 3.7%, elevated since the Iran war began Feb. 28.
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US consumer confidence falls in August, Conference Board says
Aug 25 (Reuters) - U.S. consumer confidence fell in August to its lowest in seven months as households' outlooks for the labor market and inflation worsened, a survey showed on Tuesday. The Conference Board said its consumer confidence index dropped ...
Associated Press News+10 Reposted by 10 other sources
US consumer confidence falls to lowest level in 7 months with gas stuck above $4
Americans’ confidence in the economy declined this month as the ongoing Iran conflict has kept gas prices elevated at more than $4 a gallon.
·New York, United States
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Coverage Details
Total News Sources19
Leaning Left8Leaning Right1Center8Last UpdatedBias Distribution47% Left, 47% Center
Bias Distribution
- 47% of the sources lean Left, 47% of the sources are Center
47% Center
L 47%
C 47%
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