American consumers became less confident of the US economy in August, as worries over the jobs market continuing to mount for the eighth month in a row.Figures released on Tuesday by the Conference Board showed that its consumer confidence index slipped to 97.4 in August from 98.7 in July, a 1.3-point decline. The reading, though modest, stayed within the same tight range recorded over the past three months and matched economists’ expectations.Short-term expectations for income, business conditions and employment also weakened, falling by 1.2 points to 74.8. Remaining well below the 80 mark, the figure is seen by many economists as a signal that recession risks are rising. Consumers’ assessment of current conditions edged down too, at 131.2 in August compared with 132.8 the month before.Despite unemployment and layoffs still being historically low, analysts say that the labour…
