The Conference Board Consumer Confidence Index declined in August for the second consecutive month, falling from 91.7 in July to 84.8 this month. The Present Situation Index – based on consumers’ assessment of current business and labor market conditions – decreased sharply from 95.9 in July to 84.2 in August, with consumers stating that both business and employment conditions had deteriorated over the past month.
Consumers’ optimism about the short-term outlook, and their financial prospects, also declined and continues on a downward path The Expectations Index – based on consumers’ short-term outlook for income, business, and labor market conditions – declined from 88.9 in July to 85.2 this month.
“Consumer spending has rebounded in recent months but increasing concerns amongst consumers about the economic outlook and their financial well-being will likely cause spending to cool in the months ahead,” said Lynn Franco, senior director of economic indicators at The Conference Board… Chain Store Age