Americans’ Confidence Climbs to Second-Highest Since 2007

[Purveyor]

Source: Bloomberg

10:00 AM EDT
April 17, 2015

Consumer confidence improved in April to the second-highest level in more than eight years as Americans held more favorable views of the economic outlook and inflation.

The University of Michigan said Friday that its preliminary index of sentiment climbed to 95.9 this month from 93 in March. The median projection in a Bloomberg survey of economists called for an increase to 94.

Consumers were more upbeat about the economy, their current financial situations and the buying climate, indicating spending will pick up after a lackluster performance in the first quarter. At the same time, households have a dimmer view about their income prospects, meaning shoppers will keep seeking out discounts from merchants.

The report “is encouraging given that the March payroll report was a little bit weaker and some of the other data around the consumer has been softer,” said Michelle Meyer, deputy head of U.S economics at Bank of America Corp. in New York. “The fact that consumers are feeling better hopefully will translate into greater expenditures over time and that’s been a missing link to the economic recovery this year.”

Read more: http://www.bloomberg.com/news/articles/2015-04-17/consumer-sentiment-in-u-s-climbs-to-second-highest-since-2007

[Erich Bloodaxe BSN]

1. I suspect it's tied to another DU story.

http://www.democraticunderground.com/1016120469

[winstars]

2. Thanks Obama!!!!

[Kelvin Mace]

3. That would be right before the whole

economy started to unravel.

So, what financial eldritch horror lurks beneath the waves this time? Credit default swaps on the fracking industry which is currently imploding?

[Yo_Mama]

4. Yes, this series is only a near-term predictor.

It really only tells you when a recession has started already.