Consumer Confidence Rises in August

New York, NY, Aug. 31, 2010--Consumer confidence rose to 53.5 in August from 51 in July due to an improvement in short-term outlook, but overall, consumers remain "apprehensive," the Conference Board said Tuesday.

"Employment concerns continue to weigh heavily on consumers' attitudes," said Lynn Franco, director of Conference Board's consumer research center, in a press release.

"Expectations about future business and labor market conditions have brightened somewhat, but overall, consumers remain apprehensive about the future."

Economists had expected an August level of 50. The present-situation index fell to 24.9 in August from 26.4 in July, while the expectations index rose to 72.5 from 67.5.