Conference Board Aug. Consumer Confidence Index Climbs to 92.4

The consumer confidence index gained to 92.4 in August from a revised 90.3 last month, The Conference Board reported Tuesday.

The July index was originally reported as 90.9.

The present situation index rose to 94.6 from a revised 87.9, first reported as 88.3, while the expectations index slid to 90.9 from a revised 91.9, first reported as 92.7.

Economists polled by Thomson Reuters predicted an 89.0 reading for the index.

"Consumer confidence increased for the fourth consecutive month as improving business conditions and robust job growth helped boost consumers' spirits," said Lynn Franco, director of The Conference Board's Consumer Research Center. "Consumer confidence increased for the fourth consecutive month as improving business conditions and robust job growth helped boost consumers' spirits."

Business conditions were called "good" by 23.9% of respondents in August, up from 23.3% in July. Those saying conditions are "bad" slid to 21.5% from 22.8%.

The percentage of consumers expecting a pickup in business conditions in the next half year remained 20.4%, while 10.2% said they expect conditions to worsen, down from 12.1% in the prior month.

On the jobs front, those who believe jobs are "plentiful" climbed to 18.2% in August from 15.6% in July, while the number saying jobs are "hard to get" dipped to 30.6% from 30.9%. The respondents who see fewer jobs becoming available in a half year, decreased to 15.8% from 16.6%. Those expecting more jobs to become available slid to 17.0% from 18.7%, The Conference Board reported.

The consumer confidence survey is based on a probability design random sample by the Nielsen Company.

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