Surprise! Amid All The Bad News, Consumer Confidence Rises In August

customer shopper shopping bags

Consumer confidence in August hit 53.5 up from 51 in July, and the surprise upward move has lifted stocks into positive territory.

Given the unrelenting talk about double dips, and the unemployment rate, and the housing slump, this is a pretty surprising development.

Just when everyone is convinced that the numbers can only go in one direction.

Retail stocks are all jumping.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at