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Consumer Confidence Falls

August 25, 1998

NEW YORK (AP) _ Consumer confidence fell for a second straight month in August as Americans worried about gyrations in global stock markets and new political turmoil stemming from attacks on U.S. embassies in Africa.

The Conference Board reported today that its index of consumer confidence fell 4.1 points to 133.1 in August from a revised 137.2 reached in July. August’s decline was larger than Wall Street analysts’ had expected.

``Consumer concern about the economy over the next six months was the key reason for the August decline in overall confidence,″ said Lynn Franco, associate director at the Conference Board, a New York-based private research group.

``Some of this disenchantment may have been caused by turmoil in the financial markets both in the U.S. and abroad, and to recent attacks on U.S. embassies in Tanzania and Kenya,″ she said.

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