US Consumer Confidence At 6-Year Low.
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Reuters Reports: U.S. consumer confidence at six-year low; underscores concerns about economic recovery
This August, consumer confidence dropped to more than a six-year law. Households are stressed about the labor market and incomes and are worried about economic recovery.
The second straight monthly decrease in consumer confidence reported by the Conference Board on Tuesday overshadowed an acceleration in new single-family home sales to a more than 13-1/2-year high in July. The housing market continues to show strong immunity to the coronavirus crisis.
Confidence saw a downward slide once the $600 weekly unemployment benefits expired and COVID-19 cases began to spread again.
The Conference Board said its consumer confidence index dropped to a reading of 84.8 this month, the lowest since May 2014, from 91.7 in July. Economists polled by Reuters had forecast the index edging up to a reading of 93 in August.
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