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Consumer confidence edges up in August

August 27 2013

The Conference Board’s U.S. consumer confidence index rose slightly in August after declining in July. The index now stands at a reading of 81.5 (1985=100), up from 81.0 in July.

“Consumer Confidence increased slightly in August, a result of improving short-term expectations,” said Lynn Franco, director of economic indicators at The Conference Board. “Consumers were moderately more upbeat about business, job and earning prospects.”

The number of consumers anticipating more jobs in the months ahead rose to 17.6 percent in August from 16.7 percent in July, according to the index’s survey. Those expecting fewer jobs edged down to 17.3 percent from 17.7 percent.

The percentage of people saying business conditions are “good” decreased to 18.4 percent in August from 20.8 percent in July. Consumers’ expectations regarding the short-term outlook increased in August after retreating in July; the percentage of consumers expecting business conditions to improve over the next six months edged up to 20.1 percent in August from 19.9 percent in July.

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