US Consumer Confidence August 2019: Index drops

A woman is shopping in a Walmart Supercenter store in Rosemead, California.

Frederic J. Brown | AFP | Getty Images

U.S. Consumer confidence retreated slightly in August as optimism for the current situation improved to its highest since the end of 2000, offsetting to weaken the outlook for economic conditions, the conference council said Tuesday.

The Consumer Confidence Index slipped to 135.1[ads1] in August from an upgraded 135.8 the month before.

Analysts polled by Reuters had forecast a reading of 129.5 for August.

"Expectations cooled moderately, but overall they are still strong," said Lynn Franco, the conference council's senior director of financial indicators, in a statement. "Although other parts of the economy may show some weakening, consumers have remained confident and willing to spend."

She warned that if the recent escalation in China-US trade tensions persists, consumer expectations are likely to be dampened. [19659002] The survey's expectation index dropped to 107.0 from a revised 112.4 in July.

On the other hand, the current situation meter rose to 177.2 from 170.9. The latest figure was the highest since 179.7 recorded in November 2000, the conference council said.

This story is evolving. Please check for updates.

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