The confidence is thus back at the level of June, CBS reports. The increase in confidence is mainly because consumers were positive about the economic climate.
Opinion on the economy improves greatly
The assessment of the economy in August, significantly higher than in July. The sub Economic climate indicator amounted to 20, against 12 in July. The improvement is because consumers are more positive about both the economic situation in the past and in the next 12 months.
The willingness to buy in August a fraction more negative than in July. This sub-indicator of consumer confidence leads to -3. This is mainly because consumers were slightly more negative about their financial situation over the last 12 months. They also feel the time is slightly less favorable for making major purchases.
Consumer expected drop in unemployment
The consumer’s expectation about future unemployment improved considerably and is just as positive in June . Over 40 percent of respondents expect the unemployment rate will decline in the next 12 months, more than 27 percent foresee an increase. The balance comes from positive and negative answers on this from CBS 13. Today also announced that unemployment fell in July. Having a job plays a major role in the willingness to buy.
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