Consumer confidence in US falls to 6-month low; house prices rise ...Qatar

US consumer confidence fell to a six-month low in August as concerns about soaring Covid-19 infections and higher inflation dampened the outlook for the economy. The survey from the Conference Board on Tuesday also showed consumers were less upbeat about the labour market. They were less inclined to buy a home and big-ticket items like motor vehicles and major household appliances over the next six months, supporting the view that consumer spending will cool in the third quarter after two straight quarters of double-digit growth. Still, more consumers planned to go on vacation, indicating a rotation in spending from goods to services was underway as economic activity continues to normalise

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