US consumers show confidence
The US Conference Board has released figures revealing that US consumers have shown more confidence during April than the previous month, possibly marking the ‘bottom’ of the downturn.
The Board surveyed 5,000 households for the index, with 39.2 percent showing confidence, up from 26.9 percent in March.
While those results were still considered moderate, the expectations index for the next six months jumped more sharply, suggesting that “consumers believe the economy is nearing a bottom,” said Lynn Franco, research director for the board.
The survey also indicated a drop in negative business perceptions to 45.7 percent of participants that viewed current business conditions as ‘bad’, down from 51 percent in March.