Confidence of US consumers inches ahead
The economy has the confidence of the consumer. According to a survey released by the Conference Board, consumer confidence in the United States economy rose in April for the fourth straight month.
The consumer confidence index (1969-70 equals 100) inched ahead to 77.3, up fractionally from 77.1 in March.
''Five times as many people now believe business will improve than feel it will worsen,'' explains Fabian Linden, executive director of the board's Consumer Research Center. ''Also, optimists substantially outnumber pessimists in assessing future job opportunities.
''Rising consumer expectations, which are now about as high as anytime in the 15-year history of the survey, and the recent rise in personal income are strongly suggesting that retailers will soon see the spending upturn they have long been awaiting.''
The survey, which covers 5,000 households throughout the country, is conducted monthly for the Conference Board by NFO Research Inc. of Toledo, Ohio.