Saturday, March 5, 2011

Consumer confidence spikes to three-year high

Lynn Franco, director of the board's Consumer Research Center, said the CPI spiked "due to growing optimism about the short-term future."

"Consumers' assessments of current business and labor market conditions has improved moderately, but still remains rather weak," Franco said. "Looking ahead, consumers are more positive about the economy and their income prospects, but feel somewhat mixed about employment conditions."

Bank critic praises credit card companies

The CPI's forward-looking Expectations Index also rose, to 95.1 from 87.3 in January. 

Conference Board sees consumer confidence, but not as much as past 2 monthsConsumer Confidence