(Bloomberg) -- Consumer confidence climbed more than forecast inAugust, reaching the second-highest level in eight years on morefavorable views of the labor market.

The Conference Board’s index rose to 101.5 in August from arevised July reading of 91, the New York-based private researchgroup said Tuesday. The gauge exceeded the highest estimate in aBloomberg survey of economists, whose median forecast was 93.4. Thecutoff date for the survey was Aug. 13, indicating the numberdidn’t reflect the recent stock-market sell-off.

“Consumers’ assessment of current conditions was considerablymore upbeat, primarily due to a more favorable appraisal of thelabor market,” Lynn Franco, director of economic indicators at theConference Board, said in a statement.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Employer-Paid
Employee Participation