Consumer confidence bounces back in April

Author:
Updated:
Original:

The Conference Board’s Consumer Confidence Index increased in April to a five-month high.

The index stands at 68.1, up from 61.9 in March, according to data released today by the New York-based private research group.

“Consumer confidence improved in April, as consumers’ expectations about the short-term economic outlook and their income prospects improved,” Lynn Franco, director of economic indicators at The Conference Board, said in a statement. “However, consumers’ confidence has been challenged several times over the past few months by such events as the fiscal cliff, the payroll tax hike and the sequester. Thus, while expectations appear to have bounced back, it is too soon to tell if confidence is actually on the mend.”

Bloomberg said this morning that gains in the stock market, an increase in property values and cheaper prices at the gas pump are helping to stabilize household wealth. A growing share of consumers expecting a pickup in incomes may help fuel the pace of consumer spending, which accounts for about 70 percent of the economy.

The Conference Board’s gauge of consumer present conditions rose to 60.4 in April from 59.2 in March. The measure of expectations for the next six months climbed to a five-month high of 73.3 from 63.7.

Bloomberg said the share of those expecting their incomes to increase in the next six months advanced to 16.8 percent, the highest since April 2011, from 14.6 percent. Those expecting business conditions to improve in the next six months rose to 16.9 percent in April from 15 percent the prior month.

The share of consumers expecting more jobs to become available in the next six months rose to 14.2 percent in April from 13 percent in February. The number of respondents who said jobs are currently plentiful advanced to 9.8 percent in April from 9.5 percent.

Click here for the full release.

Click here for the Bloomberg report.

Related

Freedom Boat Club Buys N.Y. Franchise

The latest acquisition is Brunswick’s sixth corporate-owned Freedom operation in the United States.

In-Person NMEA Conference Announced

The electronics conference, in conjunction with the Radio Technical Commission for Maritime Services, is scheduled for Sept. 20-24 in Orlando, Fla.

Vesper Appoints U.S.-based Manager

Damien Frye will drive sales of the New Zealand-based company’s Cortex product line.

Groupe Beneteau Sells CNB

As part of the conglomerate’s realignment, the Groupe has inked an agreement with Italian yard Solaris to purchase the bluewater sailing brand.

IBEX Hires Education Director

Patty Lawrence will manage the show’s preconference sessions, seminars and workshops.

Organizers Plan for In-Person Metstrade

The show is scheduled for Nov. 16-18 in Amsterdam and will incorporate virtual elements.

X Shore Secures $17M in Funding

The Swedish company’s 26-foot Eelex 8000 electric boat premiered at the Palm Beach show last month.