United States Consumer Confidence

United States

United States: Consumer confidence increases again in August

August 26, 2014

The Conference Board consumer confidence index jumped from a revised 90.3 points in July (previously reported: 90.9 points) to 92.4 points in August. The reading, which exceeded market expectations of a fall to 89.5 points, marked the highest point since October 2007.

August’s rise in confidence was driven by more positive consumer assessments of current economic conditions. However, there was a slight dip in consumers’ expectations regarding their personal finances over the next six months and their outlook on the future job market.

The director of the Board explained that, “[c]onsumer confidence increased for the fourth consecutive month as improving business conditions and robust job growth helped boost consumers’ spirits. Looking ahead, consumers were marginally less optimistic about the short-term outlook compared to July, primarily due to concerns about their earnings. Overall, however, they remain quite positive about the short-term outlooks for the economy and labor market.”

FocusEconomics Consensus Forecast panelists expect private consumption to grow 2.4% in 2014, which is down 0.2 percentage points from last month’s forecast. For 2015, the panel sees private consumption increasing 2.9%.


Author:, Economist

Sample Report

Looking for forecasts related to Consumer Confidence in United States? Download a sample report now.

Download

United States Consumer Confidence Chart


USA Consumer Confidence August 2014

Note: Consumer Confidence Index.
Source: The Conference Board.


United States Economic News

More news

Search form