US consumer confidence ticks higher in August
WASHINGTON (AFP) - US consumers grew slightly more confident in August as they viewed economic conditions and job prospects improving in the future, the Conference Board said on Tuesday.
The consumer confidence index rose to 81.5 last month, up from 81.0 in July but still below the five-year high of 82.1 reached in June.
The improvement in confidence, a partial predictor of consumer spending that drives the economy, surprised analysts, who generally had forecast the index would drop to 77.0.
But the overall stronger sentiment number was entirely due to expectations for conditions six months ahead; the reading jumped to 88.7 from 86.0 in July.