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.
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. 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.
Amazingly consumer confidence drops only 7% in August. With many media outlets screaming recession in order to scare people, the economy is still healthy with consumer spending continuing to look strong!
Just wait till October
What normal people care about this? Lol
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