Friday, August 03, 2007

Consumer Confidence Up

Lost in the plethora of bad news about the stock market, housing market and financial markets was a back page article in the major Sacramento newspaper on consumer confidence. Despite lower consumer spending and slower job growth people are feeling pretty good about the economy.

The Consumer Confidence Index reached a six-year high in July after falling off in June, a rebound economists view as a sign of gathering economic momentum focused away from the slowdown in the housing market and on job growth, according to The Conference Board.The Consumer Confidence Index climbed to a 112.6 in July, up from 105.3 in June. "An improvement in business conditions and the job market has lifted consumers' spirits in July," said Lynn Franco, director of The Conference Board Consumer Research Center. "Looking ahead, consumers are more upbeat about short-term economic prospects, mainly the result of a decline in the number of pessimists, not an increase in the number of optimists. This rebound in confidence suggests economic activity may gather a little momentum in the coming months."Lets hope the more positive attitude continues. Help to get the word out.


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