Conference Board Confidence Plunged to Its Lowest Since Dec 2022 and Expectations Tumbled

After reaching two year highs in July, The Conference Board consumer confidence survey was expected to show a very modest decline in August. Instead it plunged from the best in two years to the weakest since May (July was revised down from 117 to 114 and then August printed 106.1, dramatically below the 116.0 exp).