The Zhitong Finance App learned that US consumer confidence weakened further in August, falling to its lowest level since the beginning of this year. Continued high gasoline prices and the pressure on the cost of living, combined with rising consumer concerns about future employment, income, and business conditions, are putting pressure on the confidence of American households. According to data released by the US Economic Council on Tuesday, the consumer confidence index fell 0.8 points to 89.4 in August, while the previous month's data was revised down. This result falls short of the median estimate of 90.2 given by economists surveyed by the media.
The latest data further shows that while American consumers' evaluations of the current economy and the job market have improved, expectations for the next six months have deteriorated markedly.
Judging from the sub-indicators, the current status index, which measures consumers' views on the current business and employment environment, rose to its highest level in four months.
Meanwhile, the expected index, which measures the economic outlook for the next six months, fell to its lowest level since January this year, indicating that consumers' concerns about the future economic environment are deepening.
In terms of the job market, consumers' assessments of the current situation have actually improved.
In August, the proportion of consumers who thought “job opportunities were adequate” increased, while the proportion who thought “jobs were hard to find” declined. The difference between the two is one of the labor market indicators that economists pay close attention to. In August, this indicator equalized the highest level since this year.
However, when asked about the situation in the next six months, consumers are clearly more cautious. Respondents have become more pessimistic about future employment opportunities and income prospects.
This differentiation of “fair in the present, weakening in the future” became one of the most obvious characteristics of this consumer confidence survey.
High energy prices are also an important factor affecting consumer sentiment. The survey covered August 3 to 16, during which time the average price of gasoline in the US remained above $4 per gallon. As the conflict between the US and Iran escalates again, the rise in international oil prices has further boosted US consumers' fuel spending.
On Monday, the US also announced plans to further increase economic pressure on Iran. If the geopolitical situation continues to raise concerns about crude oil supply, gasoline prices are likely to remain high.
In addition to energy, broader cost of living pressures are also a drag on household confidence. Even if some inflation indicators have cooled recently, consumers will still have to face higher daily expenses.
At a time when consumer confidence is declining, US consumer spending is already showing signs of cooling. According to recent data, retail sales in the US recorded the biggest decline in more than a year in July. After spending maintained strong growth in the first half of 2026, American households began to cut some of their spending.
If consumers' prospects for future employment and income continue to weaken, it may further affect their spending intentions in the coming months.
Consumer spending is an important part of the US economy, so consumer confidence and retail sales are cooling at the same time, making the market more concerned about whether the US economy can continue to be resilient.
Another consumer survey sent similar signals. According to data previously released by the University of Michigan, consumer confidence in the US declined for the first time in three months in August. The main reasons also included household concerns about the deterioration of the future business environment and rising inflation.
The two surveys together show that although the current US job market has not deteriorated across the board, the high cost of living, rising energy prices, and a slowdown in recruitment activities are gradually affecting consumers' judgments about future economic prospects.
Overall, American consumers showed a clearly conflicting mentality in August. Evaluations of the current job market have improved, but there is more pessimism about employment, income, and business conditions over the next six months.
As consumer confidence falls to its lowest level since the beginning of the year, and retail sales declined markedly in July, whether future consumer spending can remain stable will be an important indicator for judging America's economic growth prospects.