U.S. consumer confidence fell for the second consecutive month, sinking to the lowest levels in more than six years as a resurgence of COVID-19 infections in many parts of the country heightened pessimism. The Conference Board, a New York research organization, reported Tuesday that its Consumer Confidence Index declined to a reading of 84.8 in August, the lowest level since May 2014. The drop, which followed a July decline to 91.7, put the index 36% below its high point for the year reached in February, before the coronavirus began to seriously impact the United States. Because consumer spending accounts for 70% of economic activity in the U.S., a drop-off in confidence gets a lot of attention from economists. “Consumer spending has rebounded in recent months but increasing concerns among consumers about the economic outlook and their financial well-being will likely cause spending to cool in the […]