Confidence Hits 4-Month High as Gas Prices Hit 4-Month Low

Source: Economics Group of Wells Fargo Bank, N.A.

Summary

Consumer confidence rebounded to its highest level since May as gas prices fell throughout the month and stock prices rose during the first half of it. The share of consumers that see jobs as plentiful fell, but so too did the share finding jobs as hard-to-get.

Pain Relief at the Pump

Lower gas prices throughout the month and a rebound in equities through the first half of it breathed some fresh life into consumer confidence in August. The headline print of 103.2 was a bigger gain than the consensus had expected and returns confidence to a level last seen in May. READ FULL ARTICLE>>