U.S. Consumer Confidence Index Drops To Lowest Level Since February

The Conference Board's consumer confidence index dropped to a six-month low in August amid concerns about the spread of COVID and inflation.

U.S. consumer confidence fell in August to the lowest level since February amid rising concerns about the rapidly spreading delta variant of the coronavirus and worries about higher inflation. The Conference Board reported Tuesday that its consumer confidence index dropped to a reading of 113.8 in August, down from a revised 125.1 in July. It was the lowest level for the index since a reading of 95.2 in February. The Conference Board said that concerns about the resurgence in COVID cases as well as worries about rising gas and food prices had contributed to the drop.