US consumer confidence rises in August
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US consumer confidence index increased to 103.3 in August 2024 from 101.9 in July; economists expected little change at 100.3; Dana Peterson, chief economist at the Conference Board, noted weakening assessments of the current labour situation; share of consumers viewing jobs as 'plentiful' fell to 32.8% from 33.4%; 16.4% of consumers said jobs were 'hard to get', up from 16.3%; Fed Chair Jerome Powell indicated imminent interest rate cuts; financial markets expect a 25-basis-point rate reduction next month; benchmark interest rate maintained at 5.25%-5.50% for over a year; consumers' 12-month inflation expectations dropped to 4.9%, lowest since March 2020.

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https://theedgemalaysia.com/node/724524 

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