Wednesday, August 31, 2005

The Conference Board Consumer Confidence Index Rebounds in August

The Conference Board’s Consumer Confidence Index, which had declined in July, rebounded in August. The Index now stands at 105.6 (1985=100), up from 103.6 in July. The Present Situation Index increased to 123.6 from 119.3. The Expectations Index edged up to 93.7 from 93.2 last month.

The Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households. The monthly survey is conducted for The Conference Board by TNS NFO. TNS NFO is one of the TNS group of companies (LSE: TNN). The cutoff date for August’s preliminary results was August 23rd.

“Consumers appear to be weathering the steady rise in gas prices quite well,” says Lynn Franco, Director of The Conference Board’s Consumer Research Center. “In fact, consumers’ confidence in the current state of the economy, and particularly in the labor market, has propelled the Present Situation Index to its highest level in nearly four years (125.4 in September 2001). Expectations continue to suggest more of the same for the remainder of this year.”

Keep your fingers crossed that the latest surge in gasoline prices and the disruption of shipping due to Katrina doesn't throw a monkey wrench into this terrific economy.

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