Please ensure Javascript is enabled for purposes of website accessibility
US Consumer Confidence Dips Slightly in August
gvw_ap_news
By Associated Press
Published 6 years ago on
August 28, 2019

Share

WASHINGTON — 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.

Consumers Remain Confident

Conference Board economists say that while other parts of the economy have shown some weakness, consumers have remained confident and willing to spend. The hope is that consumer spending can cushion the adverse effects to the U.S. economy from trade wars and a global slowdown.
But Lynn Franco, senior economic director at the Conference Board, said, “If the recent escalation in trade and tariff tensions persists, it could potentially dampen consumers’ optimism regarding the short-term economic outlook.”
The overall economy, as measured by the gross domestic product, slowed to growth at an annual rate of 2.1% in the April-June quarter, compared to 3.1% GDP growth in the first quarter.

Surge in Spending Cushioned Drop

However, the drop would have been much more severe except consumer spending surged to a growth rate of 4.3% in the second quarter. Economists are looking for consumer to keep spending at slightly slower rates in the second half of this year.
For August, consumers’ assessment of current business and labor market conditions increased from 170.9 in July to 177.2 in August, the highest reading since November 2000.

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

Virginia Giuffre, Voice in Epstein Sex Trafficking Scandal, Dies at 41

DON'T MISS

California Proposes Allowing Testing of Self-Driving Heavy-Duty Trucks

DON'T MISS

Higher Taxes on Millionaires? Trump Says He’s Open, but Many in His Party Are Not

DON'T MISS

Ex-US Rep. George Santos Sentenced to Over 7 Years in Prison for Fraud and Identity Theft

DON'T MISS

Selma Mayor Charged With Electioneering Violation on Election Day

DON'T MISS

Fresno Air Improves. Where Does It Rank in the US?

DON'T MISS

As Harris Ponders Run for CA Governor, Is She Prepared for the Daunting Job?

DON'T MISS

Stocks Rise With Tech-Related Shares, Notch Weekly Gains; Dollar Up

DON'T MISS

Conflicting US-China Talks Statements Add to Global Trade Confusion

DON'T MISS

Driving Near the Fresno Airport Next Week? Plan for Road Closures

UP NEXT

Fresno Air Improves. Where Does It Rank in the US?

UP NEXT

Exclusive: US Congress Republicans Seek $27 Billion for Golden Dome in Trump Tax Bill

UP NEXT

On Major Economic Decisions, Trump Blinks, and Then Blinks Again

UP NEXT

Chicago Bears Great Steve McMichael Dies at 67 After Battle With ALS

UP NEXT

Long Wait Is Over for Cam Ward, Travis Hunter and Other Draft Prospects Joining the NFL

UP NEXT

Golden State’s Jimmy Butler Injured in Game 2 Loss, His Status for Game 3 Unknown

UP NEXT

Jalen Green Makes Eight 3s to Help Rockets Even Series With Warriors

UP NEXT

US Justice Department Directs Investigations Over Gender-Affirming Care

UP NEXT

US Justice Department Cancels Hundreds of Grants for Police, Crime Victims

UP NEXT

Yelich’s 5th Career Slam and Bauers’ 2-Run Homer Power the Brewers to Win Over the Giants

Ex-US Rep. George Santos Sentenced to Over 7 Years in Prison for Fraud and Identity Theft

4 hours ago

Selma Mayor Charged With Electioneering Violation on Election Day

4 hours ago

Fresno Air Improves. Where Does It Rank in the US?

5 hours ago

As Harris Ponders Run for CA Governor, Is She Prepared for the Daunting Job?

5 hours ago

Stocks Rise With Tech-Related Shares, Notch Weekly Gains; Dollar Up

6 hours ago

Conflicting US-China Talks Statements Add to Global Trade Confusion

6 hours ago

Driving Near the Fresno Airport Next Week? Plan for Road Closures

6 hours ago

Misty Her: Push for Fresno Unified Turnaround Starts Now With ‘Boots on the Ground’

6 hours ago

Fresno Police Arrest 17 in Domestic Violence Crackdown

7 hours ago

What’s Next for Fresno Smoke Shop Ordinance: Lawsuit, Veto, Override?

7 hours ago

Virginia Giuffre, Voice in Epstein Sex Trafficking Scandal, Dies at 41

Virginia Giuffre, a former victim of Jeffrey Epstein’s sex-trafficking ring who said she was “passed around like a platter of fruit” as a te...

17 minutes ago

Virginia Roberts Giuffre speaks to reporters in New York on Aug. 27, 2019. Giuffre, a former victim of Jeffrey Epstein’s sex-trafficking ring who said she was “passed around like a platter of fruit” as a teenager to rich and powerful predators, including Prince Andrew of Britain, died on Friday at her farm in Western Australia. She was 41. (Jefferson Siegel/The New York Times)
17 minutes ago

Virginia Giuffre, Voice in Epstein Sex Trafficking Scandal, Dies at 41

4 hours ago

California Proposes Allowing Testing of Self-Driving Heavy-Duty Trucks

4 hours ago

Higher Taxes on Millionaires? Trump Says He’s Open, but Many in His Party Are Not

4 hours ago

Ex-US Rep. George Santos Sentenced to Over 7 Years in Prison for Fraud and Identity Theft

Selma Mayor Scott Robertson (left) has been charged with misdemeanor electioneering for allegedly campaigning near voters at a polling place during the November 2024 election. (Facebook)
4 hours ago

Selma Mayor Charged With Electioneering Violation on Election Day

5 hours ago

Fresno Air Improves. Where Does It Rank in the US?

5 hours ago

As Harris Ponders Run for CA Governor, Is She Prepared for the Daunting Job?

6 hours ago

Stocks Rise With Tech-Related Shares, Notch Weekly Gains; Dollar Up

Help continue the work that gets you the news that matters most.

Search

Send this to a friend