Consumer Confidence Dipped in August

US consumer confidence pulled back in August, declining for the first time in four months. The result came in after the index jumped to its highest level in nearly two years the month prior. This shows consumers’ assessment of current business and labor market conditions has deteriorated, The Conference Board reported.

The headline Consumer Confidence Index declined 7.9 points to 106.1 in August from 114 one month ago. Both the Present Situation index and the Expectations Index also dropped from July, coinciding with signs of cooling in what has been a resilient US jobs market, the report noted.

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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