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Consumer Confidence Ticks Up in August


September 1 — The Conference Board Consumer Confidence Index edged up in August following declines in June and July, according to the latest survey of some 5,000 U.S. households.

For August the Index stood at 53.5, up from 51.0 in July. This was better than expected by economists surveyed by Dow Jones Newswire, according to the online Wall Street Journal.

The present Situation Index decreased from 24.9 to 26.4. The Expectations Index rose to 72.5 from 67.5 last month.

"Consumer confidence posted a modest gain in August, the result of an improvement in consumers' short-term outlook," said Lynn Franco, director of The Conference Board Consumer Research Center. "Consumers' assessment of current conditions, however, was less favorable as employment concerns continue to weigh heavily on consumers' attitudes.

"Expectations about future business and labor market conditions have brightened somewhat, but overall, consumers remain apprehensive about the future.  All in all, consumers are about as confident today as they were a year ago," added Franco.