Americans upbeat: Consumer confidence 2nd-highest since ‘07

May 3, 2015

ANN ARBOR, Mich. (5/4/15)--Improved optimism for the job market and wages boosted consumer confidence to the second-highest level since April 2007.

“Personal financial prospects have improved significantly,” said Richard Curtin, director of the Michigan Survey of Consumers (Bloomberg May 1). “Financial gains were expected by 37% of all consumers in April. Although just above the 36% recorded in the prior two months, it was the highest proportion recorded since April 2007.”

April’s final index for the month increased to 95.9 from 93 in March.

The Thomson Reuters/University of Michigan survey’s current conditions index, which takes the pulse of Americans’ feelings about their personal finances, rose to a three-month high of 107 in April from 105.

The measure of six-month-out expectations increased to 88.8 from 85.3.