More Good News About Consumer Spending and Confidence

The Consumer Confidence Index followed up its March rebound by picking up 5.6 points in April, finishing the month at 57.9.

Lynn Franco, director of the Consumer Research Center at The Conference Board, which compiles the monthly indicator, noted that the April reading was the highest for the index since September 2008, when it registered 61.4.

“Consumers’ concerns about current business and labor market conditions eased again,” Franco said. “And their outlook regarding business conditions and the labor market was also more positive than last month.”

Reflecting Franco’s observations, both key components of the overall index gained ground this month. The Present Situations Index totaled 28.6, 3.4 points ahead of March’s level; and the Expectations Index rose seven points to 77.4.

Consumers who were surveyed by The Conference Board for the index reported more positive viewpoints of current and future economic conditions, and the current and future jobs picture as well. “Looking ahead, continued job growth will be key in sustaining positive momentum,” Franco said.

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