Consumer Confidence Continues to Improve
The Conference Board’s Consumer Confidence Index, which had improved slightly in July, gained five points in August, finishing the month at 56.9 points (1985=100). The Present Situation Index declined to 63.2 from 65.8 last month and the Expectations Index increased to 52.8 from 42.7 in July, marking a six-month high.
The number of consumers citing current business conditions as “bad,” grew to 33.2 percent from 32.6 percent last month, as the number appraising conditions as “good” inched up to 13.4 percent from 13.2 percent.
Just under 26 percent of consumers thought business conditions would be worse in six months, down significantly from 32.4 percent last month. The balance, 74.2 percent, thought business conditions would be better or the same in six months, up from 67.6 percent in July.