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(CNN) - US consumers continue to boost the economy and trust that the good times will continue.
Although economists hoped that consumer confidence would be affected in August, after a very strong July, American consumers still have much more confidence in the US economy. than many predicted.
In August, The Conference Board consumer confidence index stood at 135.1, slightly below 135.8 in July, but well above the Refinitiv consensus forecast of 129.5.
"The consumer assessment of the current conditions improved further, and the current situation index is now at the highest level in almost 19 years," said Lynn Franco, senior director of economic indicators for The Conference Board.
The strong labor market is helping consumers set aside concerns about the US-China trade war.
"Consumers are two-thirds of the economy, so their bubbling confidence more than compensates for the concerns recorded by manufacturing executives," said MUFG chief financial economist Chris Rupkey, who expected 2% economic growth this year. .
Deepak Puri, communications director of Deutsche Bank Wealth Management Americas, even expects 2.3% growth in 2019 thanks to solid consumer spending and strong wage growth.
