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US consumer confidence dips in August
US consumer confidence took a small dip this August, with the index dropping to 97.4 from July's 98.7.
People are feeling less sure about jobs and income, and both current outlook and future expectations have slipped—especially with the Expectations Index still below the "recession risk" line.
If people stay cautious with their wallets, it could slow
Confidence like this shapes how much people spend, which drives most of the US economy.
For eight months straight, folks have felt down about job prospects.
According to a summary of the report from the Conference Board, worries about jobs and income are outweighing any good news on business conditions.
If people stay cautious with their wallets, it could potentially slow things down for everyone—at least in the near future.