US consumer confidence in August highest in 11 months
WASHINGTON — U.S. consumer confidence rose in August to its highest level in 11 months, suggesting economic growth could pick up in the second half of the year.
The Conference Board said Tuesday that its consumer confidence index rose to 101.1, up from 96.7 in July. It was the highest level for confidence since the index hit 102.6 last September.
The gain reflected consumers’ brighter views about current the economic situation and their expectations for the future.
The percentage of those surveyed who saw business conditions as “good” increased from 27.3 per cent to 30 per cent. Those who viewed business conditions as “bad” remained virtually unchanged at 18.4 per cent.