Decrease fuel costs push client confidence to highest degree since Might

Lower gas prices push consumer confidence to highest level since May

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CNN
 — 

Lower gas prices helped consumer confidence bounce back in August, breaking a three-month stretch of worsening sentiment. However this improvement, while welcome, is tempered by ongoing worries that the US economy may be heading toward a recession.

The Conference Board’s monthly snapshot of consumer attitudes improved, rising to 103.2 from July’s downwardly revised 95.3. The August number matches the level it reached in May and marks the first time since then that the headline index broke 100, the historical baseline metric.

The survey found that Americans are less pessimistic in both their current and future economic outlooks. The present situation index, which measures how people perceive current business and labor market conditions, jumped to 145.4 from 139.7 last month.

The expectations index rose to 75.1 from 65.6, reflecting a reversal from pessimism…

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