Consumer Confidence Drops in the US for August 2023

In August 2023, the Consumer Confidence Index® took a dip, signaling shifts in the economic landscape. This decline, standing at 106.1 (1985=100), marked a departure from the upward trajectory of the previous months.

The Present Situation Index, reflecting consumers’ assessments of the current business and labor market conditions, decreased to 144.8. This downturn mirrors changing perceptions, notably concerns about rising prices for essentials like groceries and gasoline, affecting various age groups and income brackets.

The Expectations Index, gauging future income, business, and labor market conditions, also dropped to 80.2, raising questions about potential economic challenges ahead. Analysts note that despite some alleviation, concerns about an impending recession linger.

Dive deeper into the August data to understand the factors behind the diminished consumer confidence. The economic outlook is evolving, and we have the insights on diminished consumer confidence to guide you. Explore more to stay informed.

Source: Economic Insider

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