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Consumer confidence improves in August

August 25, 2009
Staffing Industry Analysts North American Daily News

Consumer confidence rebounded in August, according to The Conference Board's consumer confidence index released today. The index rose to a level of 54.1 in August (1985=100) from 47.4 in July.

"Consumer confidence, which had posted back-to-back monthly declines, appears to be back on the mend," said Lynn Franco, director of The Conference Board Consumer Research Center. "Consumers were more upbeat in their short-term outlook for both the economy and the job market in August, but only slightly more upbeat in their income expectations. And, as long as earnings continue to weigh heavily on consumers' minds, spending is likely to remain constrained."

The number of consumers saying business conditions are "bad" fell to 45.6% in the index's survey from 46.5% in the previous month's survey. And consumers saying jobs are "hard to get" fell to 45.1% from 48.5% in the previous month.

The index's survey includes 5,000 U.S. households.