Consumer confidence skyrockets

The Democrats giddiness concerning their 06 midterm election prospects is beginning to evaporate, and not without good reason.

WASHINGTON - Consumer confidence zoomed to a seven-month high as lower gasoline prices made people feel a lot better about the current economic climate and their own financial standing.

The RBC Cash Index, based on the results of the international polling firm Ipsos, showed confidence rebounding to 93.7 in early September.

That marked an improvement from August, when consumer confidence sank to a three-month low of 74.8. At that time, the toll of soaring energy prices was blamed for weighing on consumers' psyches. The recent drop in energy prices, however, provided people with some relief and propelled confidence to its best reading since February.

This investment measure jumped to 110 in September, up from 83.2 in August. It was the second-best showing on record, trailing only a reading of 111.7 in late January 2002, when the economy was in recovery mode after the 2001 recession.