The index, which was determined by the Conference Board, determined that the gauge for the economic outlook over the next three to six months rose 0.6 percent in August following a 0.9 percent decrease in the same statistic in July. The result was in line with predictions, according to the New York-based group, and it reflects gains in stock prices, consumer confidence, and homebuilding.

Federal Reserve Chairman Ben Bernanke has echoed the sentiment that the recession is most likely over, but he has also cautioned that high unemployment and other unfavorable financial circumstances will temper economic recovery for a long while. Some analysts have gone so far as to say that the economy is sharply recovering, leaving the lingering question regarding when exactly the economy will be healthy again.

Fed Chairman Ben Bernanke (Image: Flickr)

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Lead Economic Index Up 0.6 % in August

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People also had a more optimistic view of employment, according to the report. The percentage of people expecting the job outlook to improve saw a boost from just 7.3% to 13.9%, and fewer peopl expect to see the job market to get even worse than it is right now.

The Conference Board, based in New York, polls 5,000 people every month for their consumer confidence study. Overall confidence saw the biggest jump since almost a year ago.

The boost in consumer confidence bodes well for retailers, who hope that the worst is over for 2009. As shoppers begin to think that the future looks brighter, they will likely spend more money, which is an important step to the economy recovering.

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Report: Consumers More Confident in April