The Conference Board Consumer Confidence Index, which declined in July, improved moderately in August. It now stands at 53.5 (1985=100), up from 51.0 in July. The Present Situation Index decreased to 24.9 from 26.4. The Expectations Index increased to 72.5 from 67.5 last month.
The Consumer Confidence Survey is based on a representative sample of 5000 U.S. households; the cutoff date for August’s preliminary results was August 24th.
“Consumer confidence posted a modest gain in August, the result of an improvement in consumers’ short-term outlook," said Lynn Franco, director of The Conference Board Consumer Research Center. "Consumers’ assessment of current conditions, however, was less favorable as employment concerns continue to weigh heavily on consumers’ attitudes. Expectations about future business and labor market conditions have brightened somewhat, but overall, consumers remain apprehensive about the future. All in all, consumers are about as confident today as they were a year ago (Aug. 2009, 54.5).
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