Consumer Confidence Rises in August
The CEA-CNET Index of Consumer Expectations (ICE) reached 172.2 in August, a jump of more than six points from July’s yearly low. The ICE, which measures consumer expectations about the broader economy, is up six and a half points from this time last year and has climbed in three of the last four months.
“Consumers are feeling more confident of an economic recovery as the recession comes to an end,” says Shawn DuBravac, CEA’s economist and director of research. “In particular, consumers are feeling more optimistic about the broader economy, their own financial wellbeing and, importantly, are feeling more secure in their own jobs. Improved confidence in job security should buoy purchase decisions moving forward.”
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