Rattled: Consumer Confidence Set Back Six-Months Amid Delta Surge

Summary A larger than expected drop in consumer confidence in August to its lowest level since February occurred against a depressing backdrop of war and pestilence. As the reality of the Delta variant decreases vaccine hesitancy, the scope for a drop in case counts may be the best hope for renewed confidence in the homestretch of the year. Until then, consumer spending will be under pressure. Confidence Dented by Delta Variant and COVID Re-emergence Consumer confidence dropped more than 11 points to 113.8, a larger drop than had been expected. There was no shortage of things to worry about, which weighed on consumers’ collective psyche in August. It was the first month showcasing the full extent of the Delta variant on confidence, and it sets back the Conference Board measure by about six-months to a level that is above where it was in February and just below where it was in March. READ FULL ARTICLE>>