Consumer confidence down in AugustNews added by ProWEB Media on August 10, 2010
Gary Linnell

ProWEB Media

Joined: December 27, 2005

Consumer confidence fell 2.5 percent in August from July, according to the IBD/TIPP Economic Optimism Index.

The Index fell to 43.6 in August from 44.7 in July, with readings above 50 indicating optimism, and those below 50 suggesting pessimism.

The reading is currently at its lowest level since October 2008, and sits 3.8 points below its 12-month average of 47.4.

Respondents remained unsure about their household finances during the next six months, reflected in a 3.3 percent dip to 49.2 in the gauge's personal financial outlook measure.

Meanwhile, the index's six-month economic outlook component rose 5.4 percent to 45.1 and now sits 13 points above its level in December 2007, when the recession began.
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