Consumer confidence reaches highest level since October 2000
Photo: Daniel Leal-Olivas/AFP via Getty Images
The monthly U.S. Consumer Confidence Index rose from 127.9 in July to 133.4 in August, hitting its highest mark since October 2000 and beating Reuters analysts' prediction that it would fall to 126.7.
Why it matters: The economy is humming, and any suggestion that the consumer mood was faltering because of trade disputes may have been premature, says Jim Baird, Chief Investment Officer for Plante Moran Financial Advisors. The stock market is on a record-breaking bull run, unemployment is low, and GDP growth topped 4% last quarter for the first time since 2014.