Confidence bounces, labor market answers improve, but where the car buyers?

Conference Board Consumer Confidence was 52.5, 1.5 pts higher than expected and up from 46.4 in Feb which plummeted 10 pts from Jan. The Present Situation rose to 26 from 21.7 but up only a touch from the Jan reading of 25.2. Expectations rose to 70.2 from 62.9 but are well below the Jan figure of 77.3. After falling to near its lowest level since ’92, those that said Business Conditions are good, rose back to its Jan level. Those that said Business was bad fell to the lowest since Nov ’09. The answers to the labor market questions did show some improvement. Those that said jobs were Plentiful rose .4 pts to 4.4 and matches the highest level since June ’09. Those that said jobs were Hard To Get fell 1.5 pts and to the lowest since Aug ’09. Those that plan to buy a home within 6 mo’s rose a hair, by .1 to 2.8, but that’s the highest since Aug ’09. Those who plan to buy a car however fell 1.5 pts to the lowest since at least 1967.

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