Consumer Confidence Improves in August

Posted on 01 September 2010 by Rhonda Flathman

Recent consumer confidence gauges are showing mixed messages. One CBS News Poll showed a growing number of Americans felt the economy was worsening, while the latest Thomson Reuters/University of Michigan monthly consumer index show improvements. The final index reading for August showed an increase, 68.9 up from 67.8 in July, which was the lowest since November. Consumer confidence is tied to more consumer spending, which accounts for 70 percent of the economy.

Consumer confidence improved this month, according to the latest Thomson Reuters/University of Michigan monthly consumer sentiment index released Friday.

The final index for the month rose to a 68.9 reading from 67.8 in July, which had been the lowest since November.

The preliminary reading two weeks ago was 69.6, which economists had predicted would be the final reading, Bloomberg reported.

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