U.S. consumers are more confident about the economy than they have been in five years, due in part to rising home prices, an improved job market and a surging stock market, according to an Associated Press/Pantagraph report.
The latest Consumer Confidence Index shows that consumer confidence improved in April and May and is now at its highest level since February 2008. Said Lynn Franco, director of Economic Indicators at The Conference Board in a news release:
“Consumer Confidence posted another gain this month and is now at a five-year high. Consumers’ assessment of current business and labor-market conditions was more positive and they were considerably more upbeat about future economic and job prospects. Back-to-back monthly gains suggest that consumer confidence is on the mend and may be regaining the traction it lost due to the fiscal cliff, payroll-tax hike, and sequester.”
In other headlines:
Completed foreclosures hold steady in April: CoreLogic – Chicago Tribune
Experts: Home prices rising but room to grow – Medill Reports