CONSUMER CONFIDENCE UNEXPECTEDLY JUMPS

University of michiganREUTERS/Mike StoneMichigan fans cheer.

Consumer confidence in the U.S. is on the rise.

The University of Michigan’s consumer confidence index jumped to 82.5 in August, beating expectations for a print of 80.0.

This was also much stronger than the preliminary estimate of 79.2, and the 81.8 in July.

The current conditions index ticked up to 99.8 from the preliminary print of 99.6.

The outlook index was revised up sharply to 71.3 from 66.2.

This comes amid an improving U.S. labour market and despite geopolitical turmoil overseas.

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