The Conference Board
recently reported that the Consumer Confidence Index gained more than six
points in April to stand at 68.1, up from 61.9 in March.
The Present Situation
Index increased to 60.4 from 59.2 (1985=100) while the Expectations Index
improved to 73.3 from 63.7 last month.
Furniture Today, a new favorite site of GET, LLC, reports that this month's gain continued the index's up-and-down pattern for
the year. It rose 10 points in February and declined eight points in March
before the April gain.
"Consumer
Confidence improved in April, as consumers' expectations about the short-term
economic outlook and their income prospects improved," said Lynn Franco,
director of economic indicators at The Conference Board. "However,
consumers' confidence has been challenged several times over the past few
months by such events as the fiscal cliff, the payroll tax hike and the
sequester. Thus, while expectations appear to have bounced back, it is too soon
to tell if confidence is actually on the mend."
The Conference Board
is a global, independent business membership and research association working
in the public interest with a mission to provide the world’s leading
organizations with the practical knowledge they need to improve their
performance and better serve society.
The report also
pointed out that the consumers' outlook for the labor market was also more
positive. Those expecting more jobs in the months ahead improved to 14.2% from
13%, while those expecting fewer jobs decreased to 22.4% from 26%. The
proportion of consumers expecting their incomes to increase rose to 16.8% from
14.6%, while those expecting a decrease declined to 16% from 17.7%.