Consumer confidence fell in August as the outlook for business conditions and the labor market deteriorated 70 days ahead of midterm elections.
The Conference Board’s measure of household confidence in the economy fell by 0.8 points to 89.4 after a downward revision to the prior month, according to a report released Tuesday.
The decline was entirely caused by a fall in the gauge of the outlook for the economy. Views of current economic conditions improved in August.
“Consumer confidence moderated slightly in August for a second consecutive month,” said Dana M Peterson, Chief Economist, The Conference Board. “The Expectations Index slipped…
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