The Conference Board said Tuesday that Americans’ view of the U.S. economy declined modestly in August as anxiety over a weakening job market increased for the eighth consecutive month, according to the Associated Press.
The consumer confidence index reportedly fell by 1.3 points to 97.4 in August, down from July’s 98.7. The index has remained in the same narrow range for the past three months, and August’s decline in confidence was in line with most economists’ forecasts.
A measure of Americans’ short-term expectations for their income, business conditions and the job market ticked down by 1.2 points to 74.8, remaining well below 80, which can signal a recession ahead.
Consumers’ assessments of their current economic situation also fell modestly to 131.2 in August from July’s 132.8.
