Consumers' buying plans grow stronger
The wallet will be coming out of the pocket more often as consumers display a growing willingness to spend. The Conference Board's index of American buying plans soared 18 points to 103 .6 (1969-70 EQUALS 100) in June.
Of the 5,000 households surveyed on a monthly basis, 8 percent intend to buy automobiles over the next six months - up from 6 percent in May. And those planning to purchase homes jumped from 2.8 percent to 3.4 percent.
''The solid increase in spending plans, coupled with the steady growth in consumer confidence since the beginning of the year, should quiet any lingering uncertainty about the immediate business outlook. The latest message from the consumer suggests that we are entering the go-go phase of this recovery,'' said Fabian Linden, executive director of the board's Consumer Research Center.