The recently published Consumer Confidence Index for August depicts an increase from the 96.7 measure in July to the current 101.1. Eye on Housing staffer Jing Fu explains the increase, which includes a rise in confidence in the present situation index (from 118.8 to 123.0) and the expectations index (from 82.0 to 86.4).

Consumers were clearly optimistic about present and future business conditions but there was more of a mixed reaction when asked about current employment conditions:

The share of respondents reporting that jobs were “not so plentiful” decreased from 54.9% to 50.6%. Most of the 4.3 percentage point decline (3%) was the result of a net increase in assessments of “jobs plentiful”, an upgrade, while the rest was the result of a net increase in assessments of “jobs hard to get”, a downgrade.

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