August Consumer Confidence Rose After 3 Straight Monthly Declines
Consumer intentions on buying new TV sets increased in August from July, according to preliminary Conference Board data released Tuesday. Analytics company Toluna canvassed 5,000 U.S. homes online through Aug. 23, finding 11.2% plan to buy a new TV set…
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in the next six months, said the board. That was up from 10.9% in July, 10.4% in June and 10.4% in August 2021, it said. Consumer confidence increased in August after three straight monthly declines, said the board. “Concerns about inflation continued their retreat but remained elevated” in August, it said. The improvement in confidence “may help support spending,” but inflation and additional Federal Reserve rate hikes “still pose risks to economic growth in the short term,” it said.