US consumer confidence dips slightly in August
WASHINGTON (AP) — Consumer confidence dipped slightly in August after a big rebound in July.
The Conference Board, a business research group, said Tuesday that its consumer confidence index edged down to 135.1 in August, slightly below a July reading of 135.8, which had been the highest since November. Economists had been looking for a bigger drop in August.
The reading on consumers’ assessment of current conditions improved and now stands at its highest level in nearly 19 years.
Conference Board economists say that while other parts of the economy have shown some weakness, consumers have remained confident and willing to spend. The consumer is expected to be key in cushioning the adverse effects to the U.S. economy from trade wars and a global slowdown.