U.S. consumer confidence fell sharply in August, the Conference Board said Tuesday.

The consumer confidence index declined to 98.2 in August from a revised 105.7 in July. This is the largest drop in the index since February. The level of confidence is the lowest since May. The reading was below expectations.

Economists expected the index to fall slightly to 103.6. The July confidence index was revised down from an initial estimate of 106.1. The present-situation index fell to 100.7 from 106.4, while the expectations index dropped to 96.6 from 105.3.

Lynn Franco, the director of the Conference Board’s Consumer Research Center said the slowdown in job growth in the past two months has curbed confidence.