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Trading news
18 Aug 2017
US: Consumer confidence rose in first half of August to its highest level since Jan. - UoM
"Consumer confidence rose in the first half of August to its highest level since January due to a more positive outlook for the overall economy as well as more favorable personal financial prospect," Surveys of Consumers chief economist at the University of Michigan, Richard Curtin, said on Friday.
Key quotes:
- The two component indices moved in opposite directions, with the Current Conditions Index falling slightly from its decade peak, and the Expectations Index posting a more substantial rebound
- As with the overall Sentiment Index, the component indices nearly regained the peak levels recorded earlier in 2017
- At this point, the data continue to indicate a gain of 2.4% in personal consumption expenditures in 2017