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US consumer confidence ‘improves'

US consumer confidence ‘improves'

There are signs that the US economy may be in recovery after rising the Consumer Confidence Index to the level of 54.1 this month from a revised level of 47.4 in July, much more than expected. Also, consumer expectations for the economy over the next six months rose to the level of 73.5 in August from 63.5 in July.

As Sal Guatieri, an economist at BMO Capital Markets said, "It won't be a smooth ride, but with consumer confidence now tracking higher, the groundwork for a sustainable recovery appears to be in place."

Indeed, the US economy has a long way to recover. The minimum indication of a healthy economy level is 90, far below than the current.

BBC News-8/25/2009