The University of Michigan Consumer Confidence Index fell by about 6% in August.
2025-08-29 22:58:17
According to a survey released by the University of Michigan, the final value of the US consumer confidence index in August was 58.2, down about 6% from July and the first decline in four months. The survey showed that the current economic conditions index fell to 61.7 from 68.0 in July; the consumer expectations index fell to 55.9 from 57.7 in July, also lower than 72.1 in August last year. The survey showed that as many as 43% of respondents mentioned that high prices are affecting their standard of living. This proportion is up from 39% in July and the highest level in nearly five months. Economist Joanne Xu, director of the University of Michigan Consumer Survey Project, said that after a slight improvement in July, the US labor market expectations deteriorated in August. Some 63% of respondents expect unemployment to rise in the coming year, up from 37% in the same period last year.
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