U.S. consumer confidence edged lower in August but remained stronger than expected, as brighter views of business conditions offset persistent worries about jobs.
The Conference Board’s Consumer Confidence Index registered 97.4, above the consensus forecast of 96.4. The decline from July was driven by an upward revision of that month’s estimate to 98.7. Compared with the preliminary July figure, confidence was higher.
Consumers reported better assessments of current business conditions and a modestly improved outlook for the next six months. Both measures rose in August, suggesting households see momentum outside the labor market.
By contrast, job-related gauges weakened again, consistent with July’s disappointing employment report and downward revisions to prior months. The share saying jobs were plentiful slipped for an eighth straight month, while more respondents said work was hard to find and expected fewer opportunities ahead.
The divergence showed up across age groups. Confidence fell among consumers under 35, held steady for those aged 35 to 55, and rose for those over 55. Economists said the pattern likely reflects generational differences in labor-market exposure and savings cushions.
Inflation concerns also ticked higher, with households citing tariffs and rising food costs. Consumers’ 12-month inflation expectations rose to 6.2 percent from 5.7 percent in July.
Spending plans were mixed: intentions to purchase cars increased, while discretionary items and vacations slipped.
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