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U.S. consumer confidence highest in 11 months

Staff Writer |
U.S. consumer confidence rose in August to its highest level in 11 months, suggesting economic growth could pick up in the second half of the year.

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The Conference Board said that its consumer confidence index rose to 101.1, up from 96.7 in July. It was the highest level for confidence since the index hit 102.6 last September.

The gain reflected consumers' brighter views about current the economic situation and their expectations for the future.

The percentage of those surveyed who saw business conditions as "good" increased from 27.3 percent to 30 percent. Those who viewed business conditions as "bad" remained virtually unchanged at 18.4 percent.

Consumers who regarded jobs as "plentiful" increased from 23 percent to 26 percent, although those who felt jobs were "hard to get" also rose slightly from 22.1 percent to 23.4 percent.

The government will release the August jobs report on Friday.

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