Thursday, April 30, 2009

Oh Happy Day....that's what consumer indexes are saying

In a recent AP article, the New York-based Conference Board stated that the Consumer Confidence Index rose more than 12 points to 39.2 up from a revised 26.9 in March. This exceeds ecomonmists' expectations of only 29.5 and is the highest since last November's reading of 44.7. The survey showed a significant improvement of consumer's short-term expectations of the economy. The most encouraging news came from the retail and housing sectors and may suggest that the housing market is finally bottoming out.