Consumer Confidence Beats Expectations, Rises Again to Another Post-Recession High offTheChartsConsumer confidence – one of the biggest drivers of economic growth and a key factor in franchise and small-business investment – surprised analysts and rose again in August for the fourth month in a row.

The monthly Consumer Confidence Survey, rose to 92.4 in August, up 2.1 points from July’s revised 90.3 reading.  Economists had expected the index to to pull back after hitting a post-recession high in July, but instead the numbers surged forward for the fourth straight month to set another highest level since October 2007.

 “Consumer confidence increased for the fourth consecutive month as improving business conditions and robust job growth helped boost consumers’ spirits, said Lynn Franco, the board’s director of economic indicators.  “Looking ahead, consumers were marginally less optimistic about the short-term outlook compared to July, primarily due to concerns about their earnings. Overall, however, they remain quite positive about the short-term outlooks for the economy and labor market.”

The index started at 100 in 1985, and is based on a monthly survey by Nielsen for The Conference Board by Nielsen.

Read more from the Conference Board and MarketWatch.


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