by Doug Short
The latest Conference Board Consumer Confidence Index was released this morning based on data collected through August 18. The headline number of 101.1 was a solid increase from the final reading of 96.7 for July, a downward revision from 97.3. Today’s number was substantially above the Investing.com consensus of 97.0. This is the highest reading of the past 11 months.
Here is an excerpt from the Conference Board press release.
“Consumer confidence improved in August to its highest level in nearly a year, after a marginal decline in July,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “Consumers’ assessment of both current business and labor market conditions was considerably more favorable than last month. Short-term expectations regarding business and employment conditions, as well as personal income prospects, also improved, suggesting the possibility of a moderate pick-up in growth in the coming months.”