U.S. Consumer Confidence Surpasses Expectations in August, Highest Since May – Bloomberg

The US Consumer Confidence Index released by the Conference Board, a US private research institute, in August exceeded market expectations and reached the highest level since May.

Key Point
US Consumer Confidence Index rose to 103.2 in August The index rose for the first time in four months Median market estimate is 98 The previous month’s figure was revised downward to 95.3 (preliminary figure of 95.7).

Trends in US Consumer Confidence Index

Source: Conference Board

The expectations index, which reflects the outlook for the next six months, rose to 75.1. The current situation index was also raised.

The ratio of respondents who answered that jobs are “abundant” decreased slightly to 48%. On the other hand, the proportion of respondents expecting an improvement in the business environment over the next six months increased.

“Looking ahead, August’s improvement in consumer confidence could support spending, but inflation and further rate hikes are still in the near term,” said Lynn Franco, senior director of economic indicators at The Conference Board. It poses a risk to economic growth,” he said.

Percentages of respondents intending to buy large appliances, homes and cars all rose.

In addition, the proportion of respondents planning to take long vacations was significantly higher than in June. The item will be published bimonthly.

See table for detailed statistics.

Original title:US Consumer Confidence Advances to Highest Level Since May (2)(excerpt)

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