Monday, April 20, 2009

Consumer Confidence Rebounding in April

The Wall Street Journal - The University of Michigan's reading of consumer confidence climbed in April to its highest point since the financial crisis hit in September, though it remains at historically low levels.

The index rose to 61.9 from 57.3 in March. Consumers expressed more confidence in buying houses and cars because of low prices or discounts. The index fell to a three-decade low of 55.3 in November after credit markets froze and stocks tumbled.

The one-year outlook for inflation deteriorated to 3%, from 2% in March, while the five-year inflation outlook stood at 2.7%, from 2.6% the month before.

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