U.S. Consumer Confidence Declines Amid Higher Gas Prices

Why it matters locally: The reported decline in U.S. consumer confidence, influenced by sustained high gas prices, is likely to be felt by New Mexico households and businesses as they manage transportation costs and discretionary spending.

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The Conference Board reported Tuesday that its consumer confidence index decreased in August. The index registered 89.4, a decline from 90.2 in July. This marks the lowest point for the index in seven months. Analysts link this decline to ongoing economic factors, including the consistent price of gasoline. Gas prices have remained above $4 per gallon across the United States.