The Conference Board reports that consumer confidence in August declined to 60.6, down from 65.4 in July. The present situation index was mostly unchanged dropping to 45.8 versus 45.9 a month ago, but the expectations index plummeted to 70.5 from 78.4.
The view going back to 1997 isn’t pretty, as we an see consumer confidence steadily falling. The index has really had trouble getting over 70 since the beginning of 2008.
