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Consumer Confidence: Sharp Increase

August 30, 2016
Bottom Line: Consumers' assessments of the economy improved sharply in August. Confidence, at 101.1, is above its three month average of 98.4 and at a level not seen in nearly a year. Consumers' assessments of current situations increased sharply, hitting levels not seen since August 2007. Additionally, details were positive as 6-month outlooks for business rose modestly, outlooks for income rose modestly and employment rose modestly.

Consumer Confidence ROSE by 4.4 points in August to 101.1, compared with market expectations for an increase to 97.0. The index is now 0.2% BELOW its year ago level.

Present Situation Index ROSE by 4.2 points to 123.0. The index is 6.2% ABOVE its year ago level. The Expectations Index ROSE by 4.4 points to 86.4. The index is 5.7% BELOW its year ago level. The labor differential, the percentage of respondents who said jobs are “hard to get” from the percentage who said jobs are “plentiful” , moved lower by 1.7 points to 2.6.
Article by contingentmacro