The April Conference Board Consumer Confidence # was a much better than expected 39.2, almost 10 pts better than forecasted and up from a revised 26.9 in March. It’s the highest level since Nov ’08 and the
questionnaire was likely filled out a few weeks ago but definitely reflects the sense of a slowdown in the economic deterioration and rally in the capital markets.
BUT, most of the gain was in the Expectations component which rose 19.3 pts as hope reigns supreme. The Present Situation component rose less than 2 pts. Those that said jobs were Plentiful fell .2 pts to the lowest level since 1991 but those that said jobs were Hard To Get fell almost 1 pt from last months highest level since 1992. Those that think business will get better within 6 mo’s rose to the highest since Sept ’07. Those that plan to buy a home within 6 mo’s rose a hair while those that plan to buy a car within 6 mo’s rose
to the highest since Jan.
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