United States: Consumer confidence rises in August
Consumer confidence came in at 103.2 in August, up notably from July’s 95.3 and likely aided by a strong labor market and a slight drop-off in inflation in recent months.
The headline print reflected an improvement in consumers’ views regarding the present economic situation and less pessimism over their future situation.
Lynn Franco, senior director of economic indicators at The Conference Board, said:
“The Present Situation Index recorded a gain for the first time since March. The Expectations Index likewise improved from July’s 9-year low, but remains below a reading of 80, suggesting recession risks continue. Concerns about inflation continued their retreat but remained elevated.”