What: The situation of the US market is highly volatile.

Why it is important: US consumers have fuelled retail growth in many parts of the world this summer, but this might end soon.

US Consumer confidence, which had seen a rise in June and July, declined significantly in August due to factors like higher gas prices, lower stock prices, and concerns about the labour market and overall business conditions. The Conference Board Consumer Confidence Index fell by almost 8 points to 106.1. Future expectations regarding economic conditions approached the "recession danger zone," dropping close to a reading of 80. The current situation assessment also weakened, with concerns about the labour market and business conditions. Although fears of a recession have decreased slightly, 69% of consumers still view it as likely within the next year. This apprehension is further fuelled by persistent inflation concerns and uncertainties about their future financial situation.

US consumers confidence wanes in August