Consumer confidence soars in April!
April 28, 2009 by kenduncan
Filed under News / Comments
The New York-based Conference Board said Tuesday that its Consumer Confidence Index rose more than 12 points to 39.2, up from a revised 26.9 in March. The reading marks the highest level since November’s 44.7 and well surpasses economists’ expectations for 29.5.
Some encouraging news in areas like retail sales and housing have helped fuel a recent stock rally. Earlier Tuesday, a housing index showed that home prices dropped sharply in February, but for the first time in 25 months the decline was not a record — another sign the housing crisis could be bottoming.
Economists closely monitor consumer sentiment because consumer spending accounts for more than two-thirds of economic activity.
The huge jump in confidence follows a small increase in March, following a freefall in February. Still, the index remains well below year-ago levels of 62.8.
The April gains were fueled by “a significant improvement in the short-term outlook,” Lynn Franco, director of The Conference Board Consumer Research Center, said in a statement.
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kenduncan on Tue, 28th Apr 2009 9:55 am
Your Own Personal Home Buyers and Investors Agent
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Ken@yourfraction.net
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Janet Haydon and Mike Gillis on Sat, 2nd May 2009 7:15 am
Ken, Thank you just isn’t enough. You helped us make the investment of a lifetime. We love our vacation/retirement condo in Port St. Lucie and will share our good fortune with family and friends. We have told many people from New England about how you helped us and will continue to sing your praises! Thank you seems so small…
Janet and Mike
Ken@yourfraction.net
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772-224-6378 Evenings and weekends
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