Consumer Confidence Bounces Back in August
U.S. consumers' mood brightened considerably in August, as their expectations about the near future were the most optimistic since the recession began, the Conference Board said Tuesday.
The consumer confidence index rose to 54.1 in August from 47.4 in July.
"Consumer confidence, which ad posted back-to-back monthly declines, appears to be back on the mend," said Lynn Franco, director of the Conference Board Consumer Research Center. "Consumers were more upbeat in their short-term outlook for both the economy and the job market in August, but only slightly more upbeat in their income expectations. And, as long as earnings continue to weigh heavily on consumers' minds, spending is likely to remain constrained."