(The Conference Board) US Consumer confidence plunged to 113.8 in August from 125.1 in July, the lowest reading since February this year.
Consumers’ assessment of the current labor market and business conditions deteriorated, with the Present Situation Index down to 147.3 in August, from 157.2 in July.
Short-term outlook for business, income, and labor market conditions also fell, with the Expectations Index down to 91.4 in August, from July’s 103.8.
The consumer confidence was weighed down by the Delta variant, rising gas and food prices, in a less favorable economic and growth prospects.
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