00:00U.S. consumer confidence edged lower in August as a deteriorating short-term outlook overshadowed consumers' assessment and of current
00:09economic and labor conditions, industry data showed on Tuesday.
00:13The Conference Board Consumer Confidence Index fell 0.8 points to 89.4 in August, the lowest level in seven
00:20months, down from 19.2 in July.
00:25Consumer Confidence moderated slightly in August for a second consecutive month, said Dana M. Peterson, chief economist at the Conference
00:32Board.
00:33The expectations index slipped further into negative territory, which was offset by a moderate rise in the present situation index
00:40after declining in the past three months, said Peterson.
00:44Looking ahead, consumers are more pessimistic about business conditions and the labor market over the next six months, Peterson added.
00:50A report based on preliminary survey results collected between August 3 and August 16 revealed a sharp divergence between how
00:59American households viewed current conditions and their expectations for the future.
01:03The expectations index, which gauges consumers' short-term outlook for income, business and labor market conditions, fell sharply by 5
01:11.8 points to 68.2.
01:13Net expectations for the labor market also softened by 2.6 percentage points to negative 11.5%.
01:21In particular, 14.6% of consumers expected more jobs to be available, down from 16.4% in July.
01:29Additionally, 26.1% of consumers anticipated fewer jobs, up slightly from 25.3% in July.
01:37Meanwhile, inflation and monetary policy remain the key concerns for households.
01:41Consumers' average and median 12-month inflation expectations grew slightly in August.
01:47Additionally, 61.3% of respondents still anticipate high interest rates over the next 12 months, though these represent a
01:55slight moderation from 62% in July.
01:58classic influencers' average and median 17.4% of студents' Hadi are the same rate of the doubling among present
01:58opportunities.
01:58according to that tree-zedculo pasaid.
01:58So, let's see.
Comments