- Worst since January
- Prior was 90.8 (revised to 90.2)
- Present situation 121.2 vs 114.4 prior
- Expectations 68.2 vs 74.0 prior
This isn’t a good read but this indicator is rarely a market mover.
“Consumer confidence moderated slightly in August for a second consecutive month,” said Dana M Peterson, Chief Economist, The Conference Board.
“The Expectations Index slipped further into negative territory, which
was offset by a moderate rise in the Present Situation Index after
declining in the past three months. Consumer appraisals of current
business conditions were mildly positive. 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.”
This article was written by Adam Button at investinglive.com.