Consumers Regain Pre-Crisis Level of Confidence in U.S. Economy

Consumers haven’t felt this confident about the U.S. economy since October 2007, a few months before the financial crisis would fully erupt.

The Conference Board says in its latest update that the confidence index jumped for a fourth straight month to 92.4 from 90.3 in July.
The rebounding optimism indicates that Americans could be spending more in coming months leading into the holiday seasons, which would further fuel  the economic recovery.
The Board’s report release Tuesday found that Americans’ outlook on the job market brightened significantly. The percentage of respondents who said jobs were “plentiful” rose to 18.2 percent from 15.6 percent in July. That’s the highest level since 2008.
The government’s jobs report for August, scheduled for release next week, will likely say that hiring showed solid improvement for a seventh straight month.
Employers have added an average of 230,000 jobs a month this year, up from about 195,000 a month in 2013. Average monthly job gains since February marks the most productive six-month period since 2006.
The unemployment rate rose slightly to 6.2 percent in July from 6.1 percent in June, mostly because more Americans began looking for work.

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