Suitably Flip

Raise Your Hand If You're Sure

Last month, when consumer confidence ticked up to nearly a 4-year high, I made the hilarious joke that if it went any higher, we'd need to rename it the Consumer Cockiness Index.

Well, now it's official.

Today, the Conference Board released the April reading of the Consumer Confidence Index, which moved still higher, from 107.5 to 109.6.

"Improving present-day conditions continue to boost consumers' spirits," says Lynn Franco, Director of The Conference Board Consumer Research Center. "Recent improvements in the labor market have been a major driver behind the rise in confidence in early 2006. Looking ahead, consumers are not as pessimistic as they were last month. However, expectations for the economy and labor market have been trending downward since peaking in 2003. And, while prices at the pump have yet to impact confidence, further increases could dampen consumers' mood."

Consumers' overall assessment of current conditions remains favorable. Those claiming conditions are "good" rose to 29.7 percent from 27.9 percent. Those claiming conditions are "bad," however, also rose to 15.1 percent from 14.7 percent. Labor market conditions, which had been mixed, improved. Consumers saying jobs are "plentiful" increased to 29.1 percent from 28.3 percent, while those claiming jobs are "hard to get" edged down to 19.6 percent from 20.4 percent.

Have You Heard the [Previous] Good News?
Hey America, Why the Long Face?
Initial Jobless Claims Dip Still Lower
Fed: The End Is Near (Maybe)
Trade Deficit Narrows, Senate Angles For More
If Unemployment Falls In the U.S., Does It Make a Headline?
Say It With Me Now: "Joblessness Falls Again"
Besides Which, You See, We Have Confidence In We!

Comments

Raise Your Hand If You're Sure

Last month, when consumer confidence ticked up to nearly a 4-year high, I made the hilarious joke that if it went any higher, we'd need to rename it the Consumer Cockiness Index.

Well, now it's official.

Today, the Conference Board released the April reading of the Consumer Confidence Index, which moved still higher, from 107.5 to 109.6.

"Improving present-day conditions continue to boost consumers' spirits," says Lynn Franco, Director of The Conference Board Consumer Research Center. "Recent improvements in the labor market have been a major driver behind the rise in confidence in early 2006. Looking ahead, consumers are not as pessimistic as they were last month. However, expectations for the economy and labor market have been trending downward since peaking in 2003. And, while prices at the pump have yet to impact confidence, further increases could dampen consumers' mood."

Consumers' overall assessment of current conditions remains favorable. Those claiming conditions are "good" rose to 29.7 percent from 27.9 percent. Those claiming conditions are "bad," however, also rose to 15.1 percent from 14.7 percent. Labor market conditions, which had been mixed, improved. Consumers saying jobs are "plentiful" increased to 29.1 percent from 28.3 percent, while those claiming jobs are "hard to get" edged down to 19.6 percent from 20.4 percent.

Have You Heard the [Previous] Good News?
Hey America, Why the Long Face?
Initial Jobless Claims Dip Still Lower
Fed: The End Is Near (Maybe)
Trade Deficit Narrows, Senate Angles For More
If Unemployment Falls In the U.S., Does It Make a Headline?
Say It With Me Now: "Joblessness Falls Again"
Besides Which, You See, We Have Confidence In We!