In August, the University of Michigan Consumer Confidence Index in the United States dropped by approximately 6%.

On August 29th local time, according to a survey released by the University of Michigan, the final value of the US Consumer Confidence Index in August was 58.2, a decrease of about 6% from July, marking the first decline in four months. The survey showed that the current economic conditions index dropped from 68.0 in July to 61.7; the consumer expectations index dropped from 57.7 in July to 55.9, also lower than the 72.1 in August last year. The survey showed that as many as 43% of respondents mentioned that high prices are affecting their quality of life. This proportion is higher than the 39% in July and is the highest level in nearly 5 months. University of Michigan consumer survey project director and economist Joanne Xu said that after a slight improvement in July, the US labor market expectations worsened in August. About 63% of respondents expect the unemployment rate to rise in the next year, higher than the 37% in the same period last year.