U.S. Consumer Confidence Highest in Over 2 Years

Includes: RTH, VCR
by: The Good News Economist

On Friday the University of Michigan's consumer confidence index indicated that spenders mood is at its highest level since January 2008. Since its low late in the recession, the measure has now risen by more than one-third.

One measure which records expected economic conditions advanced by 2.8% -- now up increase by 43.7% from its 2008 low. The readings for expected change in personal finances and expected five-year business conditions also both improved.

Another measure which registers sentiment about current economic conditions improved to the highest level since early-2008 and it was up 44.2% from the 2008 low. Consumers expectations for price inflation during the next year fell sharply.

The increases topped even the most optimistic of economists' predictions for gains for the period. The report, because of its strength, continues to point to steady underlying improvement in the jobs market.

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