U.S. consumer confidence increased in August to its highest level in nearly a year, suggesting economic growth could pick up in the second half of the year.
The Conference Board says that its consumer confidence index rose to a reading of 101.1, up from 96.7 in July. It was the highest level for confidence in 11 months, 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.
© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.