Americans' confidence in the economy jumped this month, helped by a better outlook for the job market and widespread expectations for higher pay. The Conference Board, a New York-based private research group, reports today that its consumer confidence index rose to 68.1 in April. That's up from a reading of 61.9 in March, bringing the index back to its February level. Consumer confidence is watched closely because consumer spending accounts for about 70% of U.S. economic activity. Despite several brief spikes, the confidence index remains well below the 90 reading that indicates a healthy economy—a level it hasn't reached since the Great Recession began in December 2007. The April gain in confidence was driven by greater expectations for growth in hiring and income over the next six months. Confidence fell sharply in March, coinciding with a weak month of job creation. Employers added just 88,000 jobs in March, down from the previous four months, when job growth averaged...
Americans are less confident in the economy this month than they were in February as massive government spending cuts have stoked economic uncertainty. It's just the latest swing in the way Americans feel about the economy. Their views have fluctuated between optimism and angst in recent months as they've weighed an advancing stock market and housing recovery against new economic challenges. The Conference Board, a New York-based private research group, says that its Consumer Confidence Index fell in March to 59.7 from a revised reading of 68 in February. The March index is considerably lower than the 68.7 reading that analysts polled by research firm FactSet had expected—and far off from 90, a reading that indicates a healthy economy. Economists closely watch the confidence index because it serves as a monthly gauge of how Americans feel about their jobs, incomes and other bread-and-butter issues. Such sentiment has national importance because consumer spending accounts for...
Consumer confidence rose to a four-and-a-half-year high in November as consumers became more optimistic about the economic outlook, according to a private-sector report released this morning. The Conference Board, an industry group, says its index of consumer attitudes rose to 73.7, up from an upwardly revised 73.1 the month before and its highest level since February 2008. Economists had expected a reading of 73, according to a Reuters poll. October was originally reported as 72.2. "Over the past few months, consumers have grown increasingly more upbeat about the current and expected state of the job market, and this turnaround in sentiment is helping to boost confidence," Lynn Franco, director of The Conference Board Consumer Research Center, says in a prepared statement. The expectations index rose to 85.1 from 84, while the present situation index edged slightly lower to 56.6 from 56.7. Consumers' labor market assessment was little changed in November. The "jobs hard to get"...
U.S. consumer confidence jumped this month to the highest level since February, bolstered by a brightened hiring outlook. The Conference Board reports this morning that its Consumer Confidence Index rose to 70.3. That's up from 61.3 in August, which was revised higher. And it's the highest reading since February, when the economy added 259,000 jobs. The indicator is watched closely because consumer spending drives nearly 70% of economic activity. The reading is still below 90, a level that indicates a healthy economy. Since the beginning of the year, the index has fluctuated sharply. The survey was conducted from Sept. 1 through Sept. 13; it showed consumers were more optimistic about the current availability of jobs and their outlook over the next six months. Those stating jobs are "plentiful" rose to 8.3% from 7.2%, while those claiming jobs are "hard to get" edged down to 39.9% from 40.6%. Those expecting more jobs in the months ahead increased to 18.5% from 15.8%, while those...
Americans can't seem to shake their uneasy feeling about the economy. Consumer confidence has fallen in June for the fourth straight month as worries about the economy outweighed relief at the gas pump, according to a private research group. The Conference Board reports today that its Consumer Confidence Index is at 62. That's down from the 64.4 reading in May and the 63.2 analysts were expecting. The index remains well below the 90 reading that indicates a healthy economy—a level it hasn't been near since the recession began in December 2007. But it's far from the all-time low of 25.3 reached in February 2009. The indicator is widely watched because consumer spending, including major items or services like health care, accounts for 70% of U.S. economic activity. The index illustrates that Americans are worried about hiring, home values, the stock market, and a worsening European economy that some fear will hurt the United States. "Consumers were somewhat more positive about...
Consumer confidence rebounds in April
Americans' confidence in the economy jumped this month, helped by a better outlook for the job market and widespread expectations for higher pay. The Conference Board, a New York-based private research group, reports today that its consumer confidence index rose to 68.1 in April. That's up from a reading of 61.9 in March, bringing the index back to its February level. Consumer confidence is watched closely because consumer spending accounts for about 70% of U.S. economic activity. Despite several brief spikes, the confidence index remains well below the 90 reading that indicates a healthy economy—a level it hasn't reached since the Great Recession began in December 2007. The April gain in confidence was driven by greater expectations for growth in hiring and income over the next six months. Confidence fell sharply in March, coinciding with a weak month of job creation. Employers added just 88,000 jobs in March, down from the previous four months, when job growth averaged...
U.S. consumer confidence falls sharply in March
Americans are less confident in the economy this month than they were in February as massive government spending cuts have stoked economic uncertainty. It's just the latest swing in the way Americans feel about the economy. Their views have fluctuated between optimism and angst in recent months as they've weighed an advancing stock market and housing recovery against new economic challenges. The Conference Board, a New York-based private research group, says that its Consumer Confidence Index fell in March to 59.7 from a revised reading of 68 in February. The March index is considerably lower than the 68.7 reading that analysts polled by research firm FactSet had expected—and far off from 90, a reading that indicates a healthy economy. Economists closely watch the confidence index because it serves as a monthly gauge of how Americans feel about their jobs, incomes and other bread-and-butter issues. Such sentiment has national importance because consumer spending accounts for...
U.S. consumer confidence hits 4.5-year high
Consumer confidence rose to a four-and-a-half-year high in November as consumers became more optimistic about the economic outlook, according to a private-sector report released this morning. The Conference Board, an industry group, says its index of consumer attitudes rose to 73.7, up from an upwardly revised 73.1 the month before and its highest level since February 2008. Economists had expected a reading of 73, according to a Reuters poll. October was originally reported as 72.2. "Over the past few months, consumers have grown increasingly more upbeat about the current and expected state of the job market, and this turnaround in sentiment is helping to boost confidence," Lynn Franco, director of The Conference Board Consumer Research Center, says in a prepared statement. The expectations index rose to 85.1 from 84, while the present situation index edged slightly lower to 56.6 from 56.7. Consumers' labor market assessment was little changed in November. The "jobs hard to get"...
American consumer confidence hits 7-month high
U.S. consumer confidence jumped this month to the highest level since February, bolstered by a brightened hiring outlook. The Conference Board reports this morning that its Consumer Confidence Index rose to 70.3. That's up from 61.3 in August, which was revised higher. And it's the highest reading since February, when the economy added 259,000 jobs. The indicator is watched closely because consumer spending drives nearly 70% of economic activity. The reading is still below 90, a level that indicates a healthy economy. Since the beginning of the year, the index has fluctuated sharply. The survey was conducted from Sept. 1 through Sept. 13; it showed consumers were more optimistic about the current availability of jobs and their outlook over the next six months. Those stating jobs are "plentiful" rose to 8.3% from 7.2%, while those claiming jobs are "hard to get" edged down to 39.9% from 40.6%. Those expecting more jobs in the months ahead increased to 18.5% from 15.8%, while those...
Consumer confidence slips in June
Americans can't seem to shake their uneasy feeling about the economy. Consumer confidence has fallen in June for the fourth straight month as worries about the economy outweighed relief at the gas pump, according to a private research group. The Conference Board reports today that its Consumer Confidence Index is at 62. That's down from the 64.4 reading in May and the 63.2 analysts were expecting. The index remains well below the 90 reading that indicates a healthy economy—a level it hasn't been near since the recession began in December 2007. But it's far from the all-time low of 25.3 reached in February 2009. The indicator is widely watched because consumer spending, including major items or services like health care, accounts for 70% of U.S. economic activity. The index illustrates that Americans are worried about hiring, home values, the stock market, and a worsening European economy that some fear will hurt the United States. "Consumers were somewhat more positive about...