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.
76 Articles
76 Articles
Pittsburgh Post-Gazette
Washington TimesU.S. consumer confidence falls to lowest level in 7 months with gas stuck above $4
Americans’ confidence in the economy declined again this month as the ongoing conflict in Iran continued to push U.S. gasoline prices above $4 per...
Consumer Confidence Drops to 7-Month Low as Gas Prices Remain Over $4.
Consumer confidence in the U.S. has hit a seven-month low, driven by high gas prices and ongoing economic uncertainty linked to inflation and geopolitical tensions.PULSE POINTS WHAT HAPPENED: Americans’ confidence in the economy declined again in August as high gasoline prices, inflation, and concerns over the conflict in Iran weighed on consumers. The Conference Board said Tuesday that its consumer confidence index fell to 89.4 from 90.2 in Jul…
The U.S. consumer confidence index measured by the Conference Board declined to 89.4 points in August, before 90.2 points a month earlier (revised data). The result was below the average estimate of some analysts, 90.2 points. Subject matter exclusive to subscribers. To have full access, access the link of the subject and register.
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