U.S. consumer confidence rose in
August as Americans grew more optimistic about prospects for jobs
and earnings over the next six months.
The Conference Board’s consumer confidence index rose to
81.3 this month, from a revised 77 in July. Last month’s
initially reported decline to 76.6 had been the lowest since
March.
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A slowing pace of layoffs and the $330 billion in federal
tax cuts that took effect last month helped consumers feel more
comfortable about the future. Staples Inc., the world’s largest
office-supplies retailer, said last week that back-to-school
sales have been “very strong” so far.
“There’s been a lot of recent economic data that would
indicate things are getting better,” Staples Chief Executive
Ronald Sargent said. “The economy is starting to come
out of the doldrums after a long winter.”
Bloomberg News
