Consumer Confidence swings back up

-- Home Textiles Today, 3/30/2010 8:01:00 AM

New York – After falling back in February, the Consumer Confidence Index rose to 52.5. It was 46.3 in February.

The Present Situation Index climbed to 26.0 from 21.7, and the Expectations Index jumped to 70.2 from 62.9 last month.

Lynn Franco, Director of The Conference Board Consumer Research Center, cautioned that consumers remain wary about the current climate for business and jobs. “And their outlook for the next six months is still rather pessimistic,” she added.

Still, fewer consumers view current conditions as “bad” – 42.8% compared to 45.1% in February. Those saying jobs are “hard to get” fell to 45.8% from 47.3% a month earlier.

The segment of consumers who believe conditions will grow worse over the next six months dropped to 13.9% compared to 15.9%. Those expecting improvement rose to 18.3% from 16.1%.

The majority don’t see much hope of improvement in their own income. Only 10.5% anticipate an income increase, up from 10.1%.