US confidence hammered by Delta in UoM August survey

Summary: US consumer confidence deteriorates sharply in August; University of Michigan index markedly below consensus figure; views of present conditions, future conditions both deteriorate again; fall only exceeded six other times in last 50 years; consistent across demographics, geographic groups; “little doubt” rise of Delta infections is driving force.   US consumer confidence started 2020 at an elevated level. However, surveys had begun to reflect a growing unease with the...

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