Consumer confidence in the U.S. declined less than expected in August, after recovering in July, according to a survey of U.S. consumer confidence.
The Conference Board's consumer confidence index stands at 135.1 down from 135.8 in July, surpassing the consensus estimate from economists polled by Econoday which was for a reading of 130.
"While other parts of the economy may show some weakening, consumers have remained confident and willing to spend. However, if the recent escalation in trade and tariff tensions persists, it could potentially dampen consumers' optimism regarding the short-term economic outlook," said Lynn Franco, senior director of economic indicators at The Conference Board.
The present situation index, which gauges consumers' evaluation of current business and labor market conditions, rose to 177.2, its highest level in 19 years, from July's 170.9.
The expectations index, which assesses consumers' short-term outlook, fell to 107 from 112.4 last month.
Consumers' expectations for the labor market deteriorated slightly, with the proportion of those anticipating more jobs in the next few months decreasing to 19.7% from 19.9%.
