Survey: US consumer confidence near a 7-year high
WASHINGTON - U.S. consumer confidence this month reached its highest point in nearly seven years, boosted by strong job gains.
The Conference Board says its confidence index rose for a fourth straight month to 92.4 from 90.3 in July. The August reading is the highest since October 2007, two months before the Great Recession officially began.
The optimism suggests that Americans will be more likely to spend in the months ahead, an important boost to the economy. Consumer spending drives about 70 percent of U.S. economic activity.
The survey found that Americans' outlook on the job market brightened considerably. The percentage of respondents who said jobs were "plentiful" rose to 18.2 percent from 15.6 percent in July. That's the highest level since 2008. Consumers' perceptions generally track the unemployment rate over time.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Crying child wanders into parking lot after being left on school bus...
Livingston Fire Dept.'s struggle with lack of funding continues
Crawfish could be in short supply for businesses relying on Atchafalaya Basin
Brusly looking for missing traffic ticket money
High School located in 'Food Desert' gets a garden on campus