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U.S. consumer confidence unexpectedly falls in August

Published 08/25/2020, 10:14 AM
Updated 08/25/2020, 10:45 AM
© Reuters. FILE PHOTO: Shoppers are seen wearing masks while shopping at a Walmart store in Bradford, Pennsylvania

WASHINGTON (Reuters) - U.S. consumer confidence fell for second straight month in August as households worried about the economic outlook.

The Conference Board said on Tuesday its consumer confidence index dropped to a reading of 84.8 this month from 91.7 in July. Economists polled by Reuters had forecast the index edging up to a reading of 93 in August.

Latest comments

What do they expect.Were in the middle of a crisis.
How can you have confidence when dems allow poeple to burn down your bussiness and force everyone to buy from the big guys. That helps the rich get richer and the poor get poorer. Minorities will end up getting the worst of it to and its all because of their LOCAL government (city/state).
you need to switch off FoxNews once a while and rejoin the real world
This whole partisanship "my team is awesome, and the other team is a bunch of Doo Doo heads" line of commenting encroaching on every single topic is nauseating and reminiscent of middle school. Starting to think there's an inverse relationship between intelligence and the frequency someone feels compelled to use the words "democrats" or "republicans".
Unexpectedly to the "economists" sitting in front of their PCs and have the computer spitting out the numbers, rather expected for all working and unemployed people in touch with reality. Instead of consumer confidence it should be called confidence in the Trump Admin to turn this recession around
why is it unexpected when we are in the middle of a recession?  did anyone expect consumer confidence to go up while Q2 GDP were down by 33%?
already depression? cool, lets see what happens next. We only missing now market crashes and bank defaults to paint the full blown picture. Citation: Generally, periods labeled depressions are marked by a substantial and sustained shortfall of the ability to purchase goods relative to the amount that could be produced using current resources and technology (potential output). Another proposed definition of depression includes two general rules: a decline in real GDP exceeding 10%, or a recession lasting 2 or more years.
So gdp (annualized) falling 5% in q1 and 33% in q2 is bad? 🤔 Perhaps we should inform those buying with gusto at ath?!? It's almost like we're trying to see if we can have the largest crash imaginable.
How could even an optimist have confidence in this detached economy
back in June Jared Kushner did say the US economy will be rocking by July, although he didn't specify whether he meant July 2020 or 2021.......
 not only Jared, Powel and Trump says the economy will sharply rebound by 3rd quarter. Hello from 3rd quarter. what's up :D
unexpectedly? No more checks hello.
people need to plan ahead more.
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