Forex Trading, News, Systems and More

US August consumer confidence 113.8 vs 124.0 expected


US August consumer confidence 113.8 vs 124.0 expected




















US August consumer confidence data from The Conference Board

  • Prior was 129.1 (highest since the start of the pandemic)
  • This is the lowest since Feb
  • Estimates ranged from 110.0 to 131.0

Details:

  • Expectations 91.4vs 108.4 prior
  • Present situation 147.3 vs 160.3 prior
  • Jobs hard to get  vs 10.5 prior
  • 1 year inflation expectations % vs 6.6% prior

“Consumer confidence retreated in August to its lowest level since February 2021(95.2),” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. “Concerns about the Delta variant-and, to a lesser degree, rising gas and food prices-resulted in a less favorable view of current economic conditions and short-term growth prospects. Spending intentions for homes, autos, and major appliances all cooled somewhat; however, the percentage of consumers intending to take a vacation in the next six months continued to climb. While the resurgence of COVID-19 and inflation concerns have dampened confidence, it is too soon to conclude this decline will result in consumers significantly curtailing their spending in the months ahead.”

Invest in yourself. See our forex education hub.