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Consumer Confidence Hits 6-Year High
Jul 31 12:17 PM US/Eastern
By ANNE D'INNOCENZIO
AP Business Writer
NEW YORK (AP) - Consumer confidence hit a six-year high in July, a
widely watched gauge of sentiment showed on Tuesday, as Americans
shrugged off falling home prices to focus on a healthy jobs market,
instead.
The New York-based Conference Board said that its Consumer Confidence
Index, rebounded to 112.6, its highest level since August 2001 when it
recorded a 114.0 reading. That compared to a revised 105.3 in June.
The July 24 cutoff for the preliminary survey of 5,000 U.S. households
was before last week's stock market tumble, however.
"An improvement in business conditions and the job market has lifted
consumers' spirits in July," said Lynn Franco, director of The
Conference Board Consumer Research Center. "Looking ahead, consumers
are more upbeat about short-term economic prospects, mainly the result
of a decline in the number of pessimists, not an increase in the
number of optimists. This rebound in confidence suggests economic
activity may gather a little momentum in the coming months."
The Present Situation index, which measures how shoppers feel now
about economic conditions, increased to 139.2 from 129.9 in June. That
was the highest level since August 2001's 144.5 reading. The
Expectations Index, which measures shoppers' outlook for the next six
months, rose to 94.8 from 88.8.
.......................................
Yeah..I know...It was better under Clinton....
Guess Porn Star Clinton made that happen when he invented
tech stocks and the computer......but the internet was invented
by AL Gore.
lolove
hank
................................
Jul 31 12:17 PM US/Eastern
By ANNE D'INNOCENZIO
AP Business Writer
NEW YORK (AP) - Consumer confidence hit a six-year high in July, a
widely watched gauge of sentiment showed on Tuesday, as Americans
shrugged off falling home prices to focus on a healthy jobs market,
instead.
The New York-based Conference Board said that its Consumer Confidence
Index, rebounded to 112.6, its highest level since August 2001 when it
recorded a 114.0 reading. That compared to a revised 105.3 in June.
The July 24 cutoff for the preliminary survey of 5,000 U.S. households
was before last week's stock market tumble, however.
"An improvement in business conditions and the job market has lifted
consumers' spirits in July," said Lynn Franco, director of The
Conference Board Consumer Research Center. "Looking ahead, consumers
are more upbeat about short-term economic prospects, mainly the result
of a decline in the number of pessimists, not an increase in the
number of optimists. This rebound in confidence suggests economic
activity may gather a little momentum in the coming months."
The Present Situation index, which measures how shoppers feel now
about economic conditions, increased to 139.2 from 129.9 in June. That
was the highest level since August 2001's 144.5 reading. The
Expectations Index, which measures shoppers' outlook for the next six
months, rose to 94.8 from 88.8.
.......................................
Yeah..I know...It was better under Clinton....
Guess Porn Star Clinton made that happen when he invented
tech stocks and the computer......but the internet was invented
by AL Gore.
lolove
hank
................................
