U.S. Consumer Confidence Declines Amid Higher Gas Prices

Why it matters locally: The decline in national consumer confidence, driven by higher gas prices, will likely be felt by Indiana residents and businesses as purchasing power is reduced.

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.