U.S. consumer confidence unexpectedly weakened in August to its lowest in nine months as Americans turned more pessimistic about the short-term outlook, according to a private sector report released on Tuesday.
Conference Board, an industry group, said its index of consumer attitudes fell to 60.6 from a downwardly revised 65.4 the month before. Economists had expected an increase to 66, according to a Reuters poll.
It was the lowest level since November. July was originally reported as 65.9.
The expectations index tumbled to 70.5 from 78.4, while the present situation index edged down to 45.8 from 45.9.
Consumers were more concerned about price increases, with expectations for inflation in the coming 12 months climbing to 5.9 percent from 5.4 percent.