THE REPORT quotes Lynn Franco, director of The Conference Board Consumer Research Center, who says, “Consumers were more apprehensive about business and employment prospects, but more optimistic about their financial prospects despite rising inflation expectations.”
U.S. consumer confidence unexpectedly weakened in August to its lowest in nine months as Americans turned more pessimistic about the short-term outlook, according to a private sector report released on Tuesday. The Conference Board, an industry group, said its index of consumer attitudes fell to 60.6 from a downwardly revised 65.4 the month before. [CNBC]
Isn’t that an oxymoran?