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By Cynthia Lin
U.S. consumers soured on the economy in August as their outlook on business
and job prospects declined, according to a report released Tuesday.
The Conference Board, a private research group, said its index of consumer
confidence fell to 60.6 in August–the lowest reading since November 2011–
from a revised 65.4 in July, first reported as 65.9. The latest index falls
short of the 66.0 expected by economists surveyed by Dow Jones Newswires.
The decline contrasts with a mid-August Thomson Reuters-University of
Michigan sentiment report that showed U.S. consumers feeling more optimistic
. That study found sentiment improving, with its index rising to 73.6 early
this month from 72.3 at the end of July. |
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