August Consumer Confidence Level Rises

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.S. consumer confidence rose unexpectedly in August to a 105.6 reading, from a revised 103.6 level in July, the Conference Board said in its monthly report.

he consumer confidence index is a predictor of consumer spending. When people are feeling less confident about the economy, they are less likely to spend money, which decreases demand for trucking services.

Bloomberg reported that the monthly outlook was better than any of its 66 analysts’ forecasts.

The Conference Board survey’s expectations index rose to 93.7 from 93.2. The present situations index rose to 123.6, the highest since September 2001, from 119.3 in July.

he percentage of consumers who saw jobs as hard to get fell to 23.2% in August from 23.8% in July. The share of consumers who saw jobs as plentiful rose to 23.5%, up from 22.9% in July.

he Conference Board surveys 5,000 households on general economic conditions, their employment prospects and spending plans.