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Consumer sentiment up more than expected

Consumer sentiment up more than expected

Consumer sentiment rose more than expected in August, an indication that Americans' pessimism about the economy may be lifting.
The New York-based Conference Board says its Consumer Confidence index rose to 54.1 from an upwardly revised 47.4 in July. Economists surveyed by Thomson Reuters had expected a slight increase to 47.5. Still, the index is far below 90, the minimum level associated with a healthy economy.
Economists closely monitor confidence because consumer spending accounts for about 70 percent of U.S. economic activity. Consumer sentiment _ fueled by signs the economy is stabilizing _ has recovered a bit since hitting a record-low of 25.3 in February.


Updated : 2021-02-27 21:29 GMT+08:00