Tuesday, January 19, 2010

Consumer Confidence Returns to Pre-Crisis Level

NEW YORK, January 14, 2010 — "After declining throughout much of 2009, American consumer confidence improved sharply this month, returning to levels not seen since the financial crisis began in September 2008, according to the most recent results of the RBC CASH (Consumer Attitudes and Spending by Household) Index. Driven by the largest-single-month gain in expectations for jobs since the inception of the Index eight years ago, the RBC Index for January 2010 stands at 58.3, up 19.3 points from its December 2009 reading of 39.0."

“This month’s RBC Index has risen to levels not seen since the financial crisis hit with full force,” said RBC Capital Markets U.S. economist Tom Porcelli. “The latest increase seems to be based on the recent string of positive economic news. This bodes well for continued improvement in consumer confidence, which will be crucial to economic recovery.”

1 Comments:

At 1/19/2010 6:41 PM, Anonymous Benny The Man said...

Hmmm.
Obama is the worst president ever.
Yet the stock market is booming (up another 100 today!), the RBC-CASH index is surging, and housing is coming back since Obama inherited and began to correct the train wreck known as the Bush Administration.
I'd say for one year, he's done okay. I do wish he would forget health care and Iraqistan.

 

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