Some Hopeful Signs ... April Consumer Confidence Jumps

As reported by the California Association of Realtors:

Consumer confidence rose more than 12 points in April to 39.2 (1985=100),
compared with 26.9 in March, according to a recent Conference Board report. The
Board’s Present Situation Index increased to 23.7 in April from 21.9 for the
previous month, while its Expectations Index jumped more than 19 points to 49.5
in April compared with 30.2 in March."Consumer confidence rose in April to its
highest reading in 2009, driven primarily by a significant improvement in the
short-term outlook,” said Lynn Franco, director of The Conference Board Consumer
Research Center. “The Present Situation Index posted a moderate gain, a sign
that conditions have not deteriorated further, and may even moderately improve,
in the second quarter. The sharp increase in the Expectations Index suggests
that consumers believe the economy is nearing a bottom, however, this Index
still remains well below levels associated with strong economic growth."
Consumers' short-term outlook improved significantly in April. Those
anticipating business conditions will worsen over the next six months declined
to 25.3 percent from 37.8 percent, according to the report, while those
expecting conditions to improve increased to 15.6 percent from 9.6 percent in
March.