PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Kenneth E. Phillipps who wrote (595926)	7/27/2004 2:00:46 PM
From: Thomas A Watson	Read Replies (2) of 769670

Yes Consumer Confidence Hits Two-Year High. PRESIDENT GEORGE W. BUSH understands economics. apnews.myway.com Jul 27, 11:22 AM (ET) By SETH SUTEL (AP) Sales of existing homes rose 2.1 percent to a new record in June as rising mortgage rates prompted... NEW YORK (AP) - Consumer confidence rose for the fourth straight month in July thanks to steady improvements in the job market, the Conference Board reported Tuesday, putting the indicator at a two-year high. The New York-based research group reported that its index for consumer confidence rose to 106.1 in July, up from 102.8 in June and well ahead of the figure of 102.0 that investors had been expecting. It was the highest level for the indicator since June 2002. Lynn Franco, director of the Conference Board's Consumer Research Center, said the gains were fueled by a better outlook for jobs, "and unless the job market sours, consumer confidence should continue to post solid numbers." A measure of consumer expectations for future economic conditions rose sharply in June, while another one gauging their sense of current conditions edged higher. The group's "expectations index" jumped to 105.8 from 100.8 last month, while the "present situation" index was up to 106.5 from 105.9. "Everything you see here is corroborating what we've seen in other indicators - that the labor market is improving," said Josh Feinman, chief economist at Deutsche Asset Management. ....... apnews.myway.com

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