US Conference Board Consumer Confidence Index increased from 101.9 to 103.3 in August, surpassing expectations of 100.2. Present Situation Index also edged up from 133.1 to 134.4, while Expectations Index improved from 81.1 to 82.5.
“Overall consumer confidence rose in August but remained within the narrow range that has prevailed over the past two years,” noted Dana M. Peterson, Chief Economist at The Conference Board.
Consumers showed “mixed feelings” about the economy. While they were more optimistic about current and future business conditions, concerns about the labor market persisted.
Assessments of the current job situation, though still positive, continued to weaken, with a more pessimistic outlook on future employment prospects. Additionally, consumers were slightly less positive about their future income, likely influenced by the recent rise in unemployment.
