U.S. Consumer Confidence Slips As $4 Gas And Job Losses Weigh

On Tuesday, August 25, 2026, the Conference Board said U.S. consumer confidence fell to 89.4 in August from 90.2 in July, the lowest reading in seven months.^[1]

Survey responses collected August 3-16 cited elevated prices — especially for oil and gasoline — and concerns about war, geopolitics, food, trade and jobs.^[1] Gasoline prices remain above $4 per gallon, a trend the coverage links to the ongoing conflict in Iran.^[1]

Survey data arrived against a weakening jobs picture and sticky inflation.^[1] The U.S. economy lost 23,000 jobs in July, and Labor Department revisions erased 103,000 previously reported roles from May and June.^[1] The Fed's preferred inflation gauge, the PCE, was running 3.7% year-over-year in June, up from about 2.8% before the Iran war began on February 28, 2026.^[1]

In August, 27% of consumers said jobs were plentiful, up from 24.4% in July, but only 14.6% expected more jobs in the next six months, down from 16.4%.^[1] That mix suggests consumers still see a relatively tight labor market now but growing uncertainty ahead, a dynamic that could restrain spending as prices and energy costs stay high.

1. PBS News