Survey: Consumer Confidence Dips in August

Consumer confidence dipped slightly in August, according to the Numerator Consumer Sentiment Tracker. The August Consumer Confidence Score was 55.4 (-0.3 points vs. July, -0.5 points vs. last year), which is an average of how consumers feel about the job market, their household finances, and their spending comfort levels.

Numerator provides a comprehensive monthly view of consumer confidence, spending & saving considerations, and future financial outlook. Here's the latest:

• 33% of consumers think it's very or somewhat difficult to find employment in the current job market (+1 point vs. July, +3 points vs. last year).
• 48% of consumers say their household's financial situation is currently good or very good.
• 41% of consumers are very or somewhat comfortable spending money on discretionary purchases right now.
• Consumers with spare cash say they're putting it in savings (35%) and paying down debts (33%). In addition, 13% of consumers say they do not have any spare cash.
• 19% of consumers say they will use spare cash to do home repairs or improvements, down 2.3 points vs. last year.
• To save money, consumers are shopping for items on sale (40%), using coupons/discount codes (39%), and cooking at home (39%).
• 33% of consumers say they are spending less overall (-0.2 points vs July, -1.2 points vs. last year).
• The August Financial Outlook Score was 51.4 (-0.5 points vs. July, +0.6 points vs. last year) as consumers express mediocre feelings about their future finances. Thinking about one year from now, 26% think their finances will be better than they are now, 51% think they'll be the same, and 23% think they'll be worse.