Consumer sentiment in the United States worsened in August

By: Trademagazin Date: 2023. 08. 30. 11:58

In August, after two consecutive monthly improvements, consumer confidence in the United States worsened due to the renewed intensification of inflation concerns, according to a survey published by the Conference Board economic research institute on Tuesday.

The consumer sentiment index for August fell to 106.1 points from the previous month’s 114.0 points, instead of the expected increase of 116.0 points. In January, the indicator stood at 106.0 points and decreased until June. In May, it stood at 102.5 points.

“The disappointing indicator in August also reflects a decline in the assessment of the current situation and prospects. Based on the responses of the consumer sample included in the survey, consumers were once again most concerned about rising prices, especially in the case of food and fuel”

said Dana Peterson, chief economist at the Conference Board.