Americans’ view of the U.S. economy declined modestly in August as anxiety over a weakening job market grew for the eighth straight month.
The Conference Board said Tuesday that its consumer confidence index ticked down by1.3 points to 97.4 in August, down from July’s 98.7, but in the same narrow range of the past three months.
The small decline in confidence was in line with analysts’ forecasts.
A measure of Americans’ short-term expectations for their income, business conditions and the job market fell by 1.2 points to 74.8, remaining significantly below 80, the marker that can signal a recession ahead.
Consumers’ assessments of their current economic situation also fell modestly, to 131.2 in August from 132.8 in July.