Bloomberg reported the reading was higher than expected with economists having forecast a reading of 50.7. Reuters reported the median forecast of analysts it polled was 50.5.

"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's 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."

The consumer confidence index is based on a survey that includes a sample of 5,000 U.S. households.