The Conference Board’s consumer-confidence index has increased to 101.1 this August from 96.7 in July, indicating that consumer confidence increased to highest levels in a year. This is another positive indicator for the U.S Economy.
The Conference Board’s director of economic indicators, Lynn Franco, said “Short-term expectations regarding business and employment conditions, as well as personal income prospects, also improved, suggesting the possibility of a moderate pickup in growth in the coming months.”
The driver of American economy has always been the consumers, and American household’s confidence in the counties economic strength is the key to consumption. Economists have reported that during the second quarter of 2016 consumer expenditures increased at the fastest rate since 2014.
The Labor Department will release the job report for the month of August. Economists expect payrolls top grow by about 180,000, which is less than the June and July numbers, but non the less in line with the average monthly increase this year.