Content tagged “Consumer confidence”

Consumer confidence increases more than forecast

Consumer confidence in the U.S. climbed more than projected in December as Americans' views of current economic conditions jumped to the highest level since April 2008, Bloomberg reports. The Conference Board's index rose to 78.1 from a revised 72 a month earlier that was stronger than initially estimated, the New York-based private research group said today. The median forecast in a Bloomberg survey called for a gain to 76. Americans are growing upbeat about the economy as household finances improve on the heels of more hiring, rising property values and stock market gains. Increased optimism along with greater wealth will help underpin the consumer spending that makes up almost 70% of the economy, the report said, providing a boost to the expansion. Another report today showed home prices in 20 U.S. cities rose in October from a year ago by the most in more than seven years. The S&P/Case-Shiller index of property prices climbed 13.6% from October 2012, the biggest 12-month gain...

Consumer confidence rebounds in April

Americans' confidence in the economy jumped this month, helped by a better outlook for the job market and widespread expectations for higher pay. The Conference Board, a New York-based private research group, reports today that its consumer confidence index rose to 68.1 in April. That's up from a reading of 61.9 in March, bringing the index back to its February level. Consumer confidence is watched closely because consumer spending accounts for about 70% of U.S. economic activity. Despite several brief spikes, the confidence index remains well below the 90 reading that indicates a healthy economy—a level it hasn't reached since the Great Recession began in December 2007. The April gain in confidence was driven by greater expectations for growth in hiring and income over the next six months. Confidence fell sharply in March, coinciding with a weak month of job creation. Employers added just 88,000 jobs in March, down from the previous four months, when job growth averaged...