Consumer Confidence Plunges in August

0

Worries about the job market caused consumers’ confidence in the U.S. economy to tumble more than expected in August to its lowest level in nine months, the Associated Press reports.


The Conference Board, a New York-based research group, said Tuesday its confidence index fell to a reading of 99.6, down from 107.0 in July. The index was lower than analysts’ expectation of 102.5.

In early afternoon trading, the Dow Jones industrial average dropped 36.02, or 0.32 percent, to 11,315.99. Broader stock indicators also showed modest declines. The Standard & Poor’s 500 index fell 4.87, or 0.37 percent, to 1,296.91, and the Nasdaq composite index fell 11.71, or 0.54 percent, to 2,148.99.


Read the full Associated Press story

.

No posts to display