Consumers were a little more upbeat in August, but just barely. The Consumer Confidence Index rose to 53.5 from 51 in July.
Lynn Franco, director of The Conference Board Consumer Confidence Research Center, said that the modest gain was the result of an “improvement in consumers’ short-term outlook,” adding that they “remain apprehensive about the future.”
Overall, consumers are about as confident as they were a year ago when the Index was at 54.5, the Conference Board said.
The Expectations Index increased to 72.5 from 67.5 and the Present Situation Index declined to 24.9 from 26.4 in July.
The troubled job market continued to weigh heavily on consumers’ attitudes, the group said.
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For complete coverage, see Wednesday’s WWD.