• August 31, 2010

The Conference Board Consumer Confidence Index declined in July, but the board said it improved in August. The index now stands at 53.5 (1985=100), up from 51.0 in July.

The Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households and is conducted by TNS. Says Lynn Franco, director of The Conference Board Consumer Research Center: "Consumer confidence posted a modest gain in August, the result of an improvement in consumers' short-term outlook." But she says consumers' assessment of current conditions was less favorable because of employment concerns.

"Expectations about future business and labor market conditions have brightened somewhat, but overall, consumers remain apprehensive about the future." She said consumers are no more confident today than they were this time last year.