Signs of Improvement as U.S. Consumer Confidence Rose in August

U.S. consumer confidence rose in August, the second consecutive month of gains, the Conference Board reported Tuesday. The August consumer confidence index rose to 56.9 from a July reading of 51.9.

The percentage of consumers saying jobs are "hard to get" rose to 32 percent in August from 30.2 percent in July. Meanwhile, the percentage of consumers expecting business conditions to worsen over the next six months fell to 25.8 percent from 32.4 percent.

The level remained relatively low and job concerns persisted. The results showed that consumers had a bleak view of the current economy, but harbored better hopes for the future. They may be showing signs of improvement by early next year.

The index was based on a survey of 5,000 U.S. households conducted by TNS for the New York-based Conference Board, a business research organization. The index uses 1985 as its benchmark, setting the index at 100. Any score above 50 means growth, while a score below 50 signals a decline.

Confidence measures are generally viewed as a barometer of consumer spending, which accounts for two-thirds of the U.S. economy. However, economists note that consumers do not always act in accordance with their statements to surveys.