U.S. Consumer Confidence Rises to Highest in Almost 18 Years
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Consumer confidence unexpectedly rose in August to the highest level since October 2000, according to a report Tuesday from the New York-based Conference Board, on improved assessments of the economy and the outlook.
The report showed a greater share of respondents anticipate purchasing big-ticket items including homes, cars and major appliances within six months, which bodes well for the outlook for consumer spending. While a smaller share said that they expect employment to rise in coming months, more Americans were optimistic about pay gains.