In August, US consumer confidence rose to 103.3, driven by business optimism, but labor market concerns persist.
In August, US consumer confidence increased to a 6-month high of 103.3, according to The Conference Board, driven by a more optimistic outlook on current and future business conditions. However, concerns over the labor market persisted, with 16.4% of consumers considering job availability as difficult. Despite a lower 12-month inflation expectation of 4.9%, consumer sentiment remains cautious, with mixed feelings about the economy. The Federal Reserve may ease borrowing costs at its September meeting, potentially providing relief to consumers and businesses.
August 27, 2024
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