US Consumer Confidence up modestly on better short-term outlook

US Consumer Confidence Index improved moderately in Aug-2010, up 2.5 base points to 53.5 compared to Jul-2010 (1985=100), according to The Conference Board. The modest gain was the result of an improvement in consumers' short-term outlook, although consumers' assessment of current conditions was less favourable, as employment concerns continue to weigh heavily. Expectations about future business and labour market conditions have brightened somewhat. [more]