Conference Board: Consumer Confidence At 5-Year High
May 29, 2013
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Consumer confidence, as measured by the Conference Board Consumer, improved again in May 2013. The Conference Board's Index stood at 76.2 in May 2013, up from 69.0 in April.
The Present Situation Index component was up, reaching 66.7 in May 2013 from 61.0 in April 2013. The Expectations Index component was up, reaching 82.4, from 74.3 in April 2013.
Lynn Franco, Director of Economic Indicators at The Conference Board, pointed out that Consumer Confidence his at its highest level since February 2008, when it reached 76.4.
"Consumers' assessment of current business and labor-market conditions was more positive and they were considerably more upbeat about future economic and job prospects," Franco said. "Back-to-back monthly gains suggest that consumer confidence is on the mend and may be regaining the traction it lost due to the fiscal cliff, payroll-tax hike, and sequester."
The monthly Consumer Confidence Survey is based on a probability-design random sample, and is conducted for The Conference Board by Nielsen. The cutoff date for the preliminary results was May 15, 2013.
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