The Conference Board Consumer Confidence Index increased in August, following a modest increase in July. The index now stands at 133.4, up from 127.9 in July. The present situation index improved from 166.1 to 172.2, while the expectations index increased from 102.4 last month to 107.6 this month.
“Consumers’ assessment of current business and labor market conditions improved further. Expectations, which had declined in June and July, bounced back in August and continue to suggest solid economic growth for the remainder of 2018. Overall, these historically high confidence levels should continue to support healthy consumer spending in the near-term,” said Lynn Franco, director of economic indicators at The Conference Board.