On Tuesday, the US Consumer Confidence numbers came out at 60.6, a far cry from the expected 65.8 level. With this being said, it does look like consumer confidence in the United States is waning, perhaps a sign of the anemic economy that seems to be lingering in that country.
The Conference Board reported that the August numbers dipped after the July numbers had actually improved. It should be stated that The Conference Board uses Nielsen, one of the most respected polling services in the United States, and this release tends to be fairly accurate.
With this being said, there were revisions though. The July numbers were actually revised downward from 65.9 to the 65.4 level. Because of this, it causes great concern for traders as the consumption of goods and services is roughly 70% of the world's biggest economy. With this being said, this will be one of the many indicators that the Federal Reserve can use to gauge whether or not further monetary easing is needed.