American consumers felt more confident in August as their outlook for the future improved.
The Conference Board, a business research group, said Tuesday that its consumer confidence index rose to 103.3 in August from 101.9 in July.
The index measures both Americans鈥� assessment of current economic conditions and their outlook for the next six months.
The measure of Americans鈥� short-term expectations for income, business and the job market rose to 82.5 from 81.1 in July.
Consumers鈥� view of current conditions rose to 134.4 in August from 133.1 last month.
Consumer spending accounts for nearly 70% of U.S. economic activity and is closely watched by economists for signs how the American consumer is feeling.
Matt Ott, The Associated Press
