Tuesday, April 25, 2006

U.S. confidence hits 4-yr high in April

Spin as they might it appears that the Entrenched Media can't turn this silk purse into a sows ear......

WASHINGTON (MarketWatch) - U.S. consumer confidence confounded expectations and hit its highest level in almost four years in April, the Conference Board said Tuesday.
The consumer confidence index rose 2.1 points to 109.6 in April from a revised 107.5 in March.

The increase was unexpected. Economists forecast a decrease to about 106.3 in April from the initial estimate for March of 107.2, largely because of higher prices at the gasoline pump, according to a survey conducted by MarketWatch.

The present situation index rose to 136.2 in April from 133.3 in March.

The expectations index jumped to 91.9 in April from 90.3 last month.

"Recent improvements in the labor market have been a major driver behind the rise in confidence in early 2006," said Lynn Franco, director of the Conference Board Consumer Research Center

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