From FoxBusiness, Tuesday, April 28, 2009
Consumer confidence in April soared to its highest level of the year, indicating that U.S. consumers may feel the worst of the economic downturn is behind us.
A report issued by private research group the Conference Board showed that confidence levels in April rose to a higher-than-expected 39.2, easily beating economist estimates of 29.0.
Consumer confidence this month well exceeded March’s revised rate of 26.9, and April’s numbers were the highest recorded since last November.
The headline number was buoyed mostly by gains in the expectations index. Expectations rose to 49.5 this month, from 30.2 in March. The present situation index increased by a much narrower margin, to 23.7 from 21.9 recorded in March.
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