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The Conference Board’s consumer confidence index fell in August following an increase in July. The index now stands at a reading of 60.6 (1985=100), down from 65.4 in July.
“The Consumer Confidence Index is now at its lowest level since late last year (Nov. 2011, 55.2),” said Lynn Franco, director of The Conference Board consumer research center. “A more pessimistic outlook was the primary reason for this month’s decline in confidence. Consumers were more apprehensive about business and employment prospects, but more optimistic about their financial prospects despite rising inflation expectations.”
According to the index’s survey, consumers saying they expected more jobs in the months ahead fell to 15.4 percent in August from 17.6 percent in July.