The consumer confidence index rebounded to 54.1 in August from an upwardly revised 47.4 in July, the Conference Board reported yesterday.
The July index was originally reported as 46.6. Economists polled by Thomson Reuters predicted a reading of 47.5.
The present situation index grew to 24.9 from a downwardly revised 23.3, originally reported as 23.4, while the expectations index soared to 73.5 from an upwardly revised 63.4 last month, originally seen as 62.0.
Business conditions were called “good” by 8.6% of respondents in August, a 8.9% drop from July. Those citing “bad” conditions slid to 45.6% from 46.5%.