U.S. Consumer Confidence Hits Three Year High

Feb. 22, 2011
Conference Board survey respondents expected their own incomes to rise

As Americans became more optimistic that their finances would soon improve, the Conference Board consumer confidence index rose to 70.4% in February, the highest level since the same month in 2008.

"Consumers are more positive about the economy and their income prospects, but feel somewhat mixed about employment conditions," said Lynn Franco, director of the Conference Board's consumer research center.

The improvement came despite lingering pessimism about the grim but slowly improving U.S. jobs market. With the unemployment rate still at 9%, the number of Americans expecting more job opportunities in the months ahead actually fell.

Meanwhile respondents said they expected their own incomes to rise.

Economists were optimistic that the improved sentiment -- which is seen as a sign of likely spending and investment -- could be sustained.

"We expect this trend to continue in the near term, particularly as the labor recovery persists," said Theresa Chen of Barclays Capital.

Copyright Agence France-Presse, 2011

Popular Sponsored Recommendations

7 Crucial Steps to Improve Your OT Security

Oct. 23, 2023
Enhance OT security in manufacturing and production. Uncover the crucial steps to safeguard your operational technology. Protect against evolving threats and bridge the IT-OT ...

Process Mining For Dummies

Nov. 19, 2023
Here it is. Everything you need to know about process mining in a single book, written in the easy-to-understand, hard-to-forget style that ‘For Dummies’ manages so effortlessly...

The Benefits of Continuous Thermal Monitoring

Oct. 17, 2023
Read this eBook to learn more about collecting and using data intelligently to improve performance.

Digitally Transforming Data and Processes With Product Lifecycle Management

Oct. 29, 2023
Manufacturers face increasing challenges in product development as they strive to consistently deliver improved results. Discover how industry leaders are improving time-to-market...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!