United States: Consumer confidence remains strong in August
August 27, 2013
In August, the Conference Board consumer confidence index rose to 81.5 points from the revised 80.3 points seen in July. The reading was somewhat higher than market expectations, which saw the index rising to just 79.0 points.
The monthly print was mainly driven by an increase in consumers' expectations regarding their personal finances over the next 12 months. Households surveyed expressed a more negative outlook with respect to their current financial situations. Respondents' assessment of the future job market remained strong; a greater number of people anticipated that there would be more jobs in the coming months.
The Conference Board suggested that consumers' positive assessment of the economy in August is, "a result of improving short-term expectations. Consumers were moderately more upbeat about business, job and earning prospects."
Author: Carl Kelly, Economist