High Prices Cause Drop in US Consumer Confidence, Lowest Level in 7 Months
· Telemundo McAllen (KTLM)
American confidence in the economy fell in August to its lowest level in seven months, as the conflict in Iran continues to push gasoline prices above $4 per gallon. The Conference Board reported on Tuesday that its consumer confidence index dropped to 89.4 in August from 90.2 in July. This marks the lowest level in seven months, but it essentially remains within the same range it has been since the beginning of the year. At the end of 2024 and the beginning of 2025, readings were consistently above 100. Respondents' perception of their current situation improved, but their short-term outlook deteriorated. Americans remain frustrated with the economy after five years of high inflation, which could pose a risk for President Donald Trump and Republicans in the upcoming midterm elections, set to take place in less than 70 days.
AI summary · Source: Telemundo McAllen (KTLM) →
