The Consumer Confidence Index was 89.4 in August, down from 90.2 in July, the Conference Board said. The present situation index — based on consumers’ assessment of current business and labor market conditions — rose by 6.8 points to 121.2. The expectations index — based on consumers’ short-term outlook for income, business and labor market conditions — fell by 5.8 points to 68.2.
“Consumer appraisals of current business conditions were mildly positive,” said Dana Peterson, chief economist for the Conference Board. “Perceptions of the current labor market improved, reversing three months of moderate decline. Looking ahead, consumers were more pessimistic about business conditions and the labor market over the next six months. Expectations for household incomes moderated but remained optimistic overall.”
