US Conference Board consumer confidence indices for August were released at 3:00 pm BST today. Report was expected to show a small improvement in the headline index, from 100.3 in July to 100.8 in August. Richmond Fed manufacturing index for August was released simultaneously and was expected to show improvement as well.
Actual Conference Board data turned out to be a positive surprise. The headline consumer confidence index improved from 101.9 (revised higher from 100.3) to 103.3. mprovement in both subindices (Present Situation and Expectations) was reported. Expectations subindex driven beat in headline index. Conference Board noted that consumers' assessment of labor market continued to weaken by remained positive. CB also said that average 12-month inflation expectations dropped to 4.9% in August, the lowest level since March 2020.
On the other hand, Richmond Fed index for August disappointed and deteriorated from -17 to -19, instead on an expected improvement to -14.
USD moved slightly higher on the news, with EURUSD ticking lower.
Conference Board consumer confidence index for August
- Headline index: 103.3 vs 100.8 expected (101.9 previously)
- Present Situation subindex: 134.4 vs 133.6 previously
- Expectations subindex: 82.5 vs 78.2 previously
Richmond Fed manufacturing index for August: -19 vs -14 expected (-17 previously)
Source: xStation5
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