Summary
Consumer confidence in the U.S. fell slightly in August due to increasing worries about the job market and tariffs. The decline was anticipated by economists and was reflected in the Conference Board's report. Job growth was lower than expected, and concerns about a potential recession increased.
Key Facts
- U.S. consumer confidence index decreased by 1.3 points to 97.4 in August.
- The index measuring expectations for income and jobs fell to 74.8.
- U.S. employers added 73,000 jobs in July, below the expected 115,000.
- Previous job figures for May and June were revised downward by 258,000 jobs.
- The unemployment rate increased slightly to 4.2%.
- There were 7.4 million job vacancies in June, a decrease from May's 7.7 million.
- Concerns about inflation and tariffs are linked to increasing prices.
- The percentage of consumers fearing a recession rose to its highest level since April.
