Consumer confidence at five-year high
By Jonathan Sweet
May 28, 2013
Filed under News
The trend of positive consumer confidence results continued today as The Conference Board reported its measure hit its best mark since February 2008.
The Conference Board Consumer Confidence Index stands at 76.2, up more than 7 points from April’s 69.0. The “Expectations” portion of the index was even better, improving to 82.4 from 74.3 in April.
The overall index was the best since hitting 76.4 more than five years ago. Consumers were more optimistic about the general state of the economy, the availability of jobs and overall business conditions.
“Back-to-back monthly gains suggest that consumer confidence is on the mend and may be regaining the traction it lost due to the fiscal cliff, payroll-tax hike, and sequester,” said Lynn Franco, Director of Economic Indicators at The Conference Board, in a statement.
This follows a report earlier this month from the Thomson Reuters/University of Michigan’s Consumer Sentiment Index that put its measure of consumer confidence at its highest level since 2007.