Skip to main content

Consumer confidence up slightly in August

The Conference Board Consumer Confidence Index, which had declined in July, improved moderately in August.

The index now stands at 53.5, up from 51 in July. The Present Situation Index decreased to 24.9 from 26.4. The Expectations Index increased to 72.5 from 67.5 last month.

"Consumer confidence posted a modest gain in August, the result of an improvement in consumers' short-term outlook," said Lynn Franco, director of The Conference Board Consumer Research Center, in a statement.

"Consumers' assessment of current conditions, however, was less favorable as employment concerns continue to weigh heavily on consumers' attitudes," Franco added. "Expectations about future business and labor market conditions have brightened somewhat, but overall consumers remain apprehensive about the future. All in all, consumers are about as confident today as they were a year ago."

Consumers' appraisal of current conditions continued to weaken in August. Those who say business conditions are "good" decreased to 8.7 percent from 8.8 percent. However, those who say business conditions are "bad" declined to 41.9 percent from 43.3 percent.

Consumers' assessment of the labor market deteriorated further. Those saying jobs are "hard to get" increased to 45.7 percent from 45.1 percent and those who say jobs are "plentiful" declined to 3.8 percent from 4.4 percent.

Related

FARSOUNDER

FarSounder Announces Leadership Changes

Matthew Zimmerman will take over as CEO for Cheryl Zimmerman as she transitions to a new role as market development strategist.

1_MARKETUPDATE

U.S. Stocks on Verge of Bear Market

Investors, analysts and small-business owners are growing more pessimistic about economic conditions.

1_SAFEBOATINGWEEK

Resources Available for Safe Boating Week

The Safe Boating Campaign and marine associations have issued videos and other materials to promote this week’s observance.

1_MIASF

MIASF Holds Annual Meeting

The South Florida trade organization announced new and reelected members, handed out awards, and arranged presentations by business leaders.

1_GASPRICE

Gas Reaches Record $4.59 Per Gallon Average

With Memorial Day weekend approaching, the summer driving and boating seasons will contribute to continued demand for gasoline.

1_MILLERMARINE

Power Lodge Acquires Miller Marine

The deal gives marine and powersports dealer Power Lodge four locations in Minnesota and one in Florida.

1_DOWDIVE

Boating Shares Suffer in Market Selloff

Major U.S. stock indices weakened yesterday, and recreational marine shares fared even worse on a percentage basis.