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The Conference Board's index dropped to 89.4 as households grew more pessimistic about the labor market and business conditions over the next six months
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The Conference Board's Consumer Confidence Index fell for a second consecutive month in August, with the index slipping 0.8 points to 89.4 — its weakest mark since January — after July's figure was revised down to 90.2, the organization said Tuesday.
The decline was driven by a drop in the Expectations Index, which measures consumers' six-month outlook for income, business, and labor market conditions. That gauge fell 5.8 points to 68.2, more than offsetting a 6.8-point rise in the Present Situation Index to 121.2 — the first improvement in that measure in four months. An Expectations Index reading below 80 is generally associated with a recession within the next year, the Conference Board noted.
