Consumer Confidence Bounces Back in August
August 26, 2009
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."
The Present Situation Index increased slightly to 24.9 from 23.3 last month, and the Expectations Index improved to 73.5 from 63.4 in July.
The Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households. The monthly survey is conducted for The Conference Board by TNS. a custom research company. The cutoff date for August's preliminary results was August 18th.
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."
The Present Situation Index increased slightly to 24.9 from 23.3 last month, and the Expectations Index improved to 73.5 from 63.4 in July.
The Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households. The monthly survey is conducted for The Conference Board by TNS. a custom research company. The cutoff date for August's preliminary results was August 18th.
