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Consumer confidence rises

August 26 2008

The Conference Board Consumer Confidence Index rose in August. The index now stands at 56.9 (1985=100), compared with 51.9 in July.

"Consumer confidence readings suggest that the economy remains stuck in neutral, but may be showing signs of improvement by early next year," said Lynn Franco, director of The Conference Board consumer research center. "However, overall readings are still quite low by historical standards and it is still too early to tell if the worst is behind us."

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

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