Photographer: Andrew Harrer/Bloomberg

Americans More Confident About Present Than About Future

Americans’ confidence about present conditions jumped in August to a 16-year high while the expectations index only ticked up some, Conference Board data showed Tuesday. The wide divergence between assessments of the current situation and the outlook for the next six months, seen the past few years, likely “reflects the perception that the best days of the recovery are behind us, and that there is not much of a chance of further substantial improvement on the horizon,” Tom Simons, senior economist at Jefferies LLC, wrote in a note. Still, both measures are elevated enough that consumers don’t appear concerned about an economic downturn, he said.

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