Consumer Confidence in the U.S. Hits 4-Year High
By Mari Davis
DALLAS, Mar 28, 2006/ --- Releasing the Consumer Confidence Index today, the Conference Board reports that the Index now stands at 107.2 for March, up from 102.7 from last month.
"This month's gain in Consumer Confidence has pushed the Index to a near four-year high (May 2002, 110.3)," says Lynn Franco, Director of The Conference Board Consumer Research Center in a statement.
"The improvement in consumers' assessment of present-day conditions is yet another sign that the economy gained steam in early 2006. Consumer expectations, while improved, remain subdued and still suggest a cooling in activity in the latter half of this year," she added.
With, the Present Situation Index rising to 133.3 from 130.3 and the Expectations Index improving to 89.9 from 84.2 last month, it was not surprising that consumers' overall assessment of current conditions remains favorable.
Those claiming conditions are "good" rose to 28.3% from 26.4%. Those claiming conditions are "bad" declined to 14.7% from 15.4%.
Labor market conditions, however, remained mixed. Consumers saying jobs are "plentiful" increased to 28.4% from 27.4%, while those claiming jobs are "hard to get" moved up to 20% from 20.2%.
This is good news for the Bush Administration, which had been criticized for several of its policies lately, from immigration law and the now ubiquitous Iraqi war that has dogged the President for the whole part of his second term.
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