The summer season may have a reputation for bringing rest and relaxation along with it, but consumers were far from worry-free by the end of summer 2023.
According to the Conference Board’s Consumer Confidence Index, U.S. consumers’ confidence in the economy fell to 106.1 in August, a new low for the summer, amid concerns about ongoing inflation and labor issues.
Consumers reported concerns about rising prices nationwide, specifically surrounding gas and groceries.
With the autumn season almost upon us, time will tell if consumer confidence continues to fall along with the changing leaves.
