Consumer confidence rebounded in March and increased further in April, according to the Conference Board Consumer Confidence Index. The Index now stands at 57.9 (1985=100), up from 52.3 in March.
The Present Situation Index increased to 28.6 from 25.2 in April; the Expectations Index improved to 77.4 from 70.4.
"The Index is now at its highest reading in about a year and a half (Sept. 2008, 61.4)," said Lynn Franco, director of The Conference Board Consumer Research Center. "Consumers’ concerns about current business and labor market conditions eased again. And, their outlook regarding business conditions and the labor market was also more positive than last month. Looking ahead, continued job growth will be key in sustaining positive momentum."
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