The Conference Board’s Consumer Confidence Index increased to 101.1 in August, up 4.4 points from July.
The Present Situation index rose 4.2 points to 123.0, while the Expectations Index increased 4.4 points to 86.4.
“Consumers’ assessment of both current business and labor market conditions was considerably more favorable than last month,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “Short-term expectations regarding business and employment conditions, as well as personal income prospects, also improved, suggesting the possibility of a moderate pick-up in growth in the coming months.”
The labor market outlook also improved in August. The share of consumers expecting more jobs in the coming months rose 0.7 points to 14.2%, while the share anticipating fewer jobs remained unchanged at 17.5%. Income expectations improved, as 18.8% expected their incomes to increase in the coming months, down from 17.1% in July.
Read the release.