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US Consumer Confidence Hit a High in August

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Americans were optimistic in August, according to the consumer confidence index released Tuesday by the Conference Board.

The monthly survey, conducted by Nielsen, found that consumer confidence in the U.S. this month stands at 101.1, up from 96.7 in July and the highest level in nearly a year.

“Consumers’ assessment of both current business and labor market conditions was considerably more favorable than last month,” said Lynn Franco, director of economic indicators at the Conference Board. “Short-term expectations regarding business and employment conditions as well as personal income prospects also improved, suggesting the possibility of a moderate pick-up in growth in the coming months.”

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