The Conference Board Consumer Confidence Index rose in August to 103.3 from an upwardly revised 101.9 in July. The Present Situation Index improved to 134.4, from 133.1 in July. The Expectations Index also improved in August, to 82.5. As the Expectations Index for July was revised up to 81.1, August marked the second consecutive month where the index was above 80.
“Overall consumer confidence rose in August but remained within the narrow range that has prevailed over the past two years,” said Dana M. Peterson, chief economist at the Conference Board. “Consumers continued to express mixed feelings in August. Compared to July, they were more positive about business conditions, both current and future, but also more concerned about the labor market. Consumers’ assessments of the current labor situation, while still positive, continued to weaken, and assessments of the labor market going forward were more pessimistic. This likely reflects the recent increase in unemployment. Consumers were also a bit less positive about future income.”
Source: PR Newswire
