US consumer confidence rebounds in August

GMT 17:26 2015 Tuesday ,25 August

Arab Today, arab today US consumer confidence rebounds in August

Shopper is viewed in Manhattan
Washington - AFP

US consumer confidence rebounded in August after slumping in July, helped by an improved views of business conditions and jobs over the next six months, the Conference Board reported Tuesday.

The Consumer Confidence Index jumped to 101.5, up from 91.0 in July, and was at its best level since January.

The index for views of the current situation surged from 104.0 to 115.1, and for that on expectations of the coming half-year, from 82.3 to 92.5.

Respondents were particularly more optimistic about improved job opportunities over the next six months, according to the survey.

"Consumers' assessment of current conditions was considerably more upbeat, primarily due to a more favorable appraisal of the labor market," said Lynn Franco, director of economic indicators at The Conference Board.

"The uncertainty expressed last month about the short-term outlook has dissipated and consumers are once again feeling optimistic about the near future. Income expectations, however, were little improved."

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