Tuesday, August 31, 2010

Conference Board Consumer Confidence Index Jumps 2.5 Points

According to the Conference Board Consumer Confidence Index, consumer confidence increased 2.5 points in August after falling 11.7 points in previous two months. The index increased from 51.0 in July to 53.5 in August. Future expectations, which were responsible for the declines in June and July, rebounded in August, driving the month’s increase.

Conditions of the labor market weakened significantly. The share of consumers reporting jobs being plentiful fell to its lowest level this year, while the share reporting jobs hard to get rose its highest level for the year.

The inflation expectations index, at 4.9, reported no change from July to August; however, the index has been trending downward since March’s 5.4 reading as fewer consumers expect higher interest rates over the next year.

10.08.31 (Source: Conference Board)

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