US consumer confidence begins in August, falling to its lowest level in a decade

the Consumer confidence Friday’s survey showed that in the United States, it fell significantly in early August, to its lowest level in a decade, as Americans gave mixed expectations on everything from personal finances to inflation to employment.

the University of Michigan She said the preliminary consumer confidence index fell to 70.2 in the first half of the month from a final reading of 81.2 in July.

This is the lowest level since 2011 and one of the six largest survey declines in the past 50 years. the Economists A Reuters poll had expected the index to remain unchanged at 81.2.

It is still expected to be Economic growth This year it advanced at its fastest pace in four decades, after falling into a brief recession in 2020 due to the coronavirus pandemic.

However, the recovery is showing some signs of cooling and Covid-19 cases Doubled in the past two weeks to reach a six-month peak like delta variable, more transmissible, spreading rapidly throughout the country.

Labor shortages also persist in the service sector, while disruptions in the supply chain persist.