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Economics

U.S. Consumer Confidence Falls From a Six-Year High

Consumer confidence in the U.S. unexpectedly dropped in August from a six-year high as Americans faced rising interest rates.

The Thomson Reuters/University of Michigan preliminary index of consumer sentiment fell to 80 from 85.1 in July, which was the highest since July 2007. The median projection of 68 economists surveyed by Bloomberg called for little change at 85.2. The decline this month was the biggest since December.