Consumer Confidence Surprises, Recovers in August

US consumer confidence grew in August, rebounding more than expected after shrinking for three straight months, The Conference Board reported.

Results in August were better than expected, measuring 103.2 points and ahead of the 97.7 estimates. The nice month-on-month (MoM) bump in consumer confidence runs parallel to the lower oil prices and is congruent with the Michigan consumer sentiment data as well.

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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