US consumer confidence rose to 92,4 in August from 91,9 in July. The figure published by the Conference Board is clearly better than the expectations of analysts who expected a drop of 89 points in the area.
“Consumer confidence has improved for the fourth consecutive month – commented the chief economist of the Conference Board, Lynn Franco – in the wake of the improvement in business conditions and the employment market. Looking ahead, consumers appear slightly less optimistic about the short-term outlook than in July, especially with regards to their wages. Overall, however, they remain deviously optimistic about the short-term outlook for the economy and the job market”.
In August, the sub-index of future expectations dropped to 90,9 from 91,9 while the opinion on the current conditions of the economy improved markedly, rising to 94,6 points from 87,9 a month ago.
