After a drop in July, the Conference Board Consumer Confidence Index was up again in August 2013.
The Index for August was 81.5, up from July's 81.0.
The two components of the Consumer Confidence Index showed mixed results in August. The Present Situation Index was down, from 73.6 in July to 70.7 in August. The Expectations Index was up, from 86.0 in July to 88.7 in August.
Lynn Franco, Director of Economic Indicators, said the August increase was a result of improving short-term expectations.
"Consumers were moderately more upbeat about business, job, and earning prospects," Franco said. "In fact, income expectations, which had declined sharply earlier this year with the payroll tax hike, have rebounded to their highest level in two and a half years. Consumers' assessment of current business and labor market conditions, on the other hand, was somewhat less favorable than last month."
Current Business Conditions: Consumers who said business conditions were good decreased from 20.8% in July to 18.4% in August. Those who said business conditions were bad was essentially unchanged at 24.8%.
Current Labor Market: Consumers who said jobs were plentiful decreased from 12.3% in July to 11.4% in August. Those who said jobs were hard to get also decreased, from 35.2% in July to 33.0%.
Future Business Conditions: Consumers who expect business conditions to improve in the next six months were up, from 19.9% in July to 20.1% in August. Those who expect business conditions to get worse were down slightly from 11.3% in July to 11.1% in August.
Future Labor Market: Consumers expecting more jobs in the next six months increased from 16.7% in July to 17.6% in August. Those expecting fewer jobs was down, from 17.7% in July to 17.3% in August.
Future income Growth: Those consumers expecting growth in their incomes increased, from 15.7% in July to 17.4% in August. Those expecting a decrease declined slightly, from 13.7% in July to 13.5% in August.
The Consumer Confidence Survey is conducted monthly for The Conference Board by Nielsen. The cutoff date for the preliminary results was August 15.
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