U.S. consumer confidence sinks to 2026 low as gasoline and living costs bite

U.S. consumer confidence fell in August to its lowest level since the start of the year as households grew more downbeat about the business environment and labor-market prospects, according to The Conference Board. The Conference Board's consumer confidence index slipped 0.8 points to 89.4, and the prior month's reading was revised lower. Economists' median forecast was 90.2. The report points to elevated gasoline prices, broader cost-of-living pressures and slower hiring as ongoing strains for U.S. households. The survey was conducted from August 3 to August 16. During that period, rising U.S.-Iran tensions lifted oil prices, and the average price of gasoline at U.S. stations stayed above $4 a gallon. Views of current job conditions improved. The share of respondents saying jobs were "plentiful" rose, while the share saying jobs were "hard to get" declined, widening the gap between the two groups to the largest since the beginning of the year. Even so, consumers turned more pessimistic about employment and income prospects over the next six months. (CoinDesk)