Confidence among US consumers rose more than expected in August as their short-term outlook brightened, but shoppers remained pessimistic about the state of the beleaguered labour market.
The Conference Board’s confidence index rose 2.5 points to 53.5 in August from a revised 51 in July, beating economists’ expectations.
While the gain reflected “the result of an improvement in consumers’ short-term outlook”, Americans remain pessimistic about current conditions as fears over jobs persist, said Lynn Franco, director of the Conference Board’s research centre,
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