Consumer confidence sharply lower, July gain revised lower to 125.1

• Aug. Consumer Confidence: 113.8 vs. 123.0 consensus and 125.1 prior (revised from 129.1).
• Present situation index: 147.3 vs. 157.2 prior.
• Expectations index: 91.4 vs. 10.38 prior.
• "Consumer confidence retreated in August to its lowest level since February 2021," said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. "Concerns about the Delta variant—and, to a lesser degree, rising gas and food prices—resulted in a less favorable view of current economic conditions and short-term growth prospects."