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US consumer confidence bounces back in August

26-Aug-2009 8:37 AM

US Consumer Confidence Index rebounded in Aug-2009 to 54.1 (1985=100), up from 47.4 in Jul-2009, according to The Conference Board.

The Conference Board: "Consumer confidence, which had posted back-to-back monthly declines, appears to be back on the mend...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", Lynn Franco, Director Consumer Research Centre. Source: The Conference Board, 25-Aug-2009.