Consumer Confidence Bounces Back

Consumer confidence improved considerably in April, according to research organization The Conference Board.

The Consumer Confidence Index, which increased slightly in March, jumped from 26.9 to 39.2 in April.

"Consumer Confidence rose in April to its highest reading in 2009, driven primarily by a significant improvement in the short-term outlook,” said Lynn Franco, director of The Conference Board consumer research center. “The Present Situation Index posted a moderate gain, a sign that conditions have not deteriorated further, and may even moderately improve, in the second quarter. The sharp increase in the Expectations Index suggests that consumers believe the economy is nearing a bottom; however, this Index still remains well below levels associated with strong economic growth."

The Consumer Confidence Survey, conducted by TNS, is based on a representative sample of 5,000 U.S. households.

Contact Thomas L. Gallagher at tgallagher@joc.com .