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Daily News

U.S. Consumer Confidence Rebounds in Wake of Mid-Term Elections
Nov 17, 2006
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With exit polls showing that the economy was an important factor to voters as they cast their ballot in last week's mid-term elections, Americans seem to be more optimistic about the future in the wake of the shift in control of Congress. According to the most recent results of the RBC CASH Index, which measured the attitudes of 1,000 Americans earlier this week, consumer sentiment gained nearly nine points this month as the outlook of Americans brightened across the board. As a result, the RBC CASH Index, released today by RBC Financial Group, increased to 92.4 this month, compared to 83.1 in October.

The RBC CASH Index reports that its finding are supported by economic and financial data. Factors contributing to the rebound in consumer confidence include: The S&P 500 reaching record highs, unemployment being at its lowest rate since 2001, personal income growth trending to its highest rate since 2000, and gasoline prices remaining near their lows for the year. The RBC CASH Index does relate that housing remains an issue, but the correction is mitigated by mortgage rates, which are near their lowest level of the year

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