After a lackluster jobs report last month, Americans are less confident about short-term income and are spending less.
Americans are more pessimistic about the state of the United States economy after a weak jobs report showed cracks in the labour market.
The Conference Board said on Tuesday that its consumer confidence index fell to 97.4 this month from an upwardly revised 98.7 in July.
“Notably, consumers’ appraisal of current job availability declined for the eighth consecutive month,” said Stephanie Guichard, senior economist of global indicators at the Conference Board.
“Meanwhile, pessimism about future job availability inched up, and optimism about future income faded slightly.”
