Consumer confidence 103.3 vs. 100.7 expectedPresent situation 134.4 vs. 133.1 prior.Expectations 82.5 vs. 81.1 prior.16.4% of consumers said jobs were “hard to get,” from 16.0%12 month inflation expectations 4.9% vs 5.4% prior — lowest since March 2020Confidence declined among consumers under 35 while it increased for those 35 and older
“Overall consumer confidence rose in August but remained within the
narrow range that has prevailed over the past two years,” said Dana M. Peterson, Chief Economist at The Conference Board.
“Consumers continued to express mixed feelings in August. Compared to
July, they were more positive about business conditions, both current
and future, but also more concerned about the labor market.”
“Consumers’
assessments of the current labor situation, while still positive,
continued to weaken, and assessments of the labor market going forward
were more pessimistic. This likely reflects the recent increase in
unemployment. Consumers were also a bit less positive about future
income.”
This article was written by Giuseppe Dellamotta at www.forexlive.com.
