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April 27, 2010 at 08:00 PM
According to a trio of confidence index reports issued in the last week of April, consumers are feeling progressively better, investors are bit more pessimistic and advisors feelings remain unchanged.
The Conference Board Consumer Confidence Index, which had rebounded in March, moved even further forward in April. The Index now stands at 57.9 (1985=100), up from 52.3 in March. The Conference Board’s Present Situation Index increased to 28.6 from 25.2, while the Expectations Index improved to 77.4 from 70.4.
“Consumer confidence, which had rebounded in March, gained further ground in April,” said Lynn Franco, director of the Conference Board Consumer Research Center, in a statement announcing the latest results, adding that the index is now at its highest reading since September 2008 (61.4).
The number of consumers claiming conditions are “good” increased to 9.1% from 8.5%, while those claiming business conditions are “bad” declined to 40.2% from 42.1%. Consumers’ appraisal of the labor market also improved. Those saying jobs are “plentiful” increased to 4.8% from 4.0%, while those saying jobs are “hard to get” decreased to 45.0% from 46.3%.
