Conference Board Warns of Economic Trouble if Trade-War Escalation ‘Persists’
Consumer intentions to buy new TV sets jumped sharply in August from July, according to preliminary Conference Board data released Tuesday. Nielsen canvassed 5,000 U.S. homes through Aug. 16 and found 13.8 percent plan to buy a new TV set…
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in the next six months, said the board. That was up from 12.4 percent in July and 12.5 percent in June but down from 14.5 percent in August 2018, it said. Consumer confidence declined “marginally” in August, as “expectations cooled” somewhat, but “overall remain strong,” it said. “While other parts of the economy may show some weakening, consumers have remained confident and willing to spend. However, if the recent escalation in trade and tariff tensions persists, it could potentially dampen consumers’ optimism regarding the short-term economic outlook.”