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US consumer confidence dips in August
The US Consumer Confidence Index in August fell to 89.4 points, the lowest level in seven months, due to rising prices of basic goods and gasoline, which averaged four dollars per gallon. This has impacted households' purchasing power. The decline is characterized by a deterioration in confidence about the future, despite stability in current conditions. Meanwhile, the labor market is slowing down, and employment is declining, putting pressure on the Federal Reserve to balance raising interest rates to combat inflation without causing an economic recession.
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