Economic Report: U.S. consumer confidence retreats markedly in August, close to levels signaling recession

The numbers: The index of U.S. consumer confidence dipped to 106.1 in August from a revised 114 in the prior month, the Conference Board said Tuesday. Economists polled by The Wall Street Journal had forecast a modest pullback to 116 from the initial reading of 117, which was the highest level in two years. The revised July reading was the highest since December 2021.Key details: Part of the survey that tracks how consumers feel about current economic conditions fell to 114.8 this month from 153