Consumer Confidence fell in August, according to the latest Conference board report…(CB)
- The Consumer Confidence Index fell 11.3 points in August. The Index now stands at 113.8.
- The current index is now down 13.5 points from the high we saw in June.
NOTE: An indicator above 100 signals a boost in the consumers’ confidence towards the future economic situation.
Breaking down the data, there is a lot more confidence in the current situation than what is going to happen in the future…
- The Present Situation Index fell 10 points to 147.3.
- The Expectations Index fell under 100 with a 12 point drop to 91.4.
Lynn Franco, Senior Director of Economic Indicators at The Conference Board, said the Delta variant and inflation are not a good mix for consumer confidence. However, there was one bright spot, travel…
- “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.”
