The Conference Board released its monthly consumer confidence data today and it’s clear confidence is growing.
The Consumer Confidence index rose to 57.9 in April, up from 52.3 in March.
The Conference Board: The Conference Board Consumer Confidence Index®, which had rebounded in March, increased further in April. The Index now stands at 57.9 (1985=100), up from 52.3 in March. The Present Situation Index increased to 28.6 from 25.2. The Expectations Index improved to 77.4 from 70.4.
The Consumer Confidence Survey® is based on a representative sample of 5,000 U.S. households. The monthly survey is conducted for The Conference Board by TNS. TNS is the world’s largest custom research company. The cutoff date for April’s preliminary results was April 20th.
Says Lynn Franco, Director of The Conference Board Consumer Research centre: “Consumer confidence, which had rebounded in March, gained further ground in April. The Index is now at its highest reading in about a year and a half (Sept. 2008, 61.4). Consumers’ concerns about current business and labour market conditions eased again. And, their outlook regarding business conditions and the labour market was also more positive than last month. Looking ahead, continued job growth will be key in sustaining positive momentum.”
Consumers’ appraisal of present-day conditions was more positive in April. Those claiming conditions are “good” increased to 9.1 per cent from 8.5 per cent, while those claiming business conditions are “bad” declined to 40.2 per cent from 42.1 per cent. Consumers’ appraisal of the labour market also improved. Those saying jobs are “plentiful” increased to 4.8 per cent from 4.0 per cent, while those saying jobs are “hard to get” decreased to 45.0 per cent from 46.3 per cent.
Consumers’ outlook was also brighter in April. The percentage of consumers expecting business conditions will improve over the next six months increased to 19.8 per cent from 18.0 per cent, while those expecting conditions will worsen declined to 12.6 per cent from 13.6 per cent.
Consumers were also more optimistic about the job outlook. The percentage of consumers anticipating more jobs in the months ahead increased to 18.0 per cent from 14.1 per cent, while those anticipating fewer jobs declined to 20.0 per cent from 21.4 per cent. The proportion of consumers anticipating an increase in their incomes declined to 10.3 from 10.8 per cent.
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