Forex
Home›Forex›Central Banks›US consumer confidence falls in August as expectations…
US consumer confidence falls in August as expectations weaken
The Conference Board said present conditions improved, but the Expectations Index dropped from 74.0 to 68.2 and more consumers reported higher inflation concerns.
US consumer confidence weakened in August, with the Conference Board Consumer Confidence Index edging down to 89.4 from 90.2, marking a second straight monthly decline, according to Action Forex.
The survey showed a divergence between current and future views. The Present Situation Index rose to 121.2 from 114.4, while the Expectations Index fell to 68.2 from 74.0, as consumers became more positive about labor market and business conditions today but more cautious about the next six months.
Action Forex also noted that household income expectations moderated and inflation concerns moved higher. Average and median 12-month inflation expectations increased slightly, and 61.3% of respondents expected interest rates to rise over the coming year, down from 62.0% in July.