WASHINGTON — Americans’ pessimism about the economy appears to be lifting, with consumer expectations for the next six months hitting their most positive point since the recession began.
The improvement stems partly from the housing market. A national gauge of home prices Tuesday posted its first quarterly increase in three years.
The New York-based Conference Board said its Consumer Confidence Index rose to 54.1 from an upwardly revised 47.4 in July.
Economists closely monitor confidence because consumer spending accounts for about 70 percent of U.S. economic activity. Consumer sentiment, fueled by signs the economy is stabilizing, has recovered a bit since hitting a record-low 25.3 in February.
Consumers’ expectations for the economy over the next six months rose to 73.5 from 63.4 in July, the highest level since December 2007, when the recession began.
