John, its not my confidence that's holding us up. We seem in a tug of war right now.
Wall Street is freaking out at these terrible earnings still coming out, but is excited that consumer confidence is improving.
I'd say buy the house.:-)
NEW YORK, May 29 (Reuters) - A leading barometer of U.S.
consumer confidence rebounded in May as Americans, while
nervous over a flood of corporate layoffs, were more optimistic
about the long-term jobs outlook.
The Conference Board said on Tuesday its broad index of
consumer attitudes jumped to 115.5 in May, up from an upwardly
revised 109.9 in April and compared with a 4-1/2 year low of
109.2 hit in February. Economists polled by Reuters had
forecast a 111.2 reading.
"Latest findings report rising confidence about job
prospects over the next six months, but reveal growing concern
about the current job market," said, Lynn Franco, director of
the Conference Board's Consumer Research Center.
"Nowhere, however, are there indications that consumers
will curtail their spending, which points to continued economic
growth," she said.
The Conference Board's Present Situation Index, a gauge of
consumer views of the economy right now, rose to 158.6 from
156.0 in April. The Expectations Index, which measures the
outlook for the next six months, bounced to 86.8 in May from
79.1 in April. |
