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Story summary
- The Conference Board reported U.S. consumer confidence fell to 89.4 in August, a seven-month low.
- June personal consumption expenditures price index increased 3.7% year-over-year.
- Employers cut 23,000 jobs in July, stalling the U.S. job market.
- Labor Department revisions erased 103,000 jobs from May and June payrolls, while unemployment fell to 4.1%.
- Only 14.6% expect more jobs in the next six months, down from 16.4%.
