Consumer Confidence Improves Much More Than Expected In April

[Purveyor]

Source: RTTNEWS

(RTTNews) - Reflecting a significant improvement in consumers' short-term outlook, the Conference Board released a report on Tuesday showing that its consumer confidence index increased by much more than economists had been expecting in April.

The report showed that the consumer confidence index jumped to 39.2 in April from an upwardly revised 26.9 in March. Economists had expected the index to increase to 29.7 from the 26.0 originally reported for the previous month.

Lynn Franco, Director of the Conference Board Consumer Research Center said, "Consumer Confidence rose in April to its highest reading in 2009, driven primarily by a significant improvement in the short-term outlook."

While the present situation index edged up to 23.7 in April from 21.9 in March, the expectations index surged up to 49.5 from 30.2.

"The sharp increase in the expectations index suggests that consumers believe the economy is nearing a bottom," Franco said. "However, this index still remains well below levels associated with strong economic growth."


Read more: http://www.rttnews.com/Content/ForexTopStory.aspx?Node=B3&Id=926886

[ClarkUSA]

1. Thank you, President Obama!

[tridim]

2. That's huge for the national psyche

Which IMO is the second most important metric in this recession.

[DJ13]

3. We often accused the past admin of rigging the economic numbers

And Im not sure this isnt also a rigged set of numbers as nothing substantial has changed for consumers in the last month.

Credit is still nearly unavailable, gas prices actually inched higher, and food prices arent significantly lower by any reasonable measure, so what was there that improved consumer sentiment.........outside of the desperate need to post numbers to help Wall Street?

[brentspeak]

5. My thoughts, too

Where, exactly, is this increase in consumer confidence happening? I don't see it.

[fencesitter]

4. Of course, it's Spring...

everyone's confidence improves in the Spring. To quote Chauncy Gardener, "There will be growth in the Spring, in the garden."