Consumer Confidence on the Rise

The Conference Board reported at the end of May that consumer confidence had reached its highest level in eight months. The monthly report measures the "degree of optimism on the state of the economy that consumers are expressing through their spending and saving activities." The May index was at 54.9 (the base year being 1985, chosen because it was neither a year of expansion or contraction), up from 40.8 reported in April and more importantly up from the all-time index low in February of 25.3. The Consumer Confidence Index since May 2007 is shown below with the Expectations Index (approx. 60% of CCI) and Present Situation Index (approx. 40% of CCI).

(Click the chart for larger image)
I've also marked this post as "Something Good" because as I see it Americans are gaining back their hope and we will soon pull out of our current economic downturn.

In other economic news the current gasoline price in the U.S. as of 06/08/09 is $2.624 (national average), up a dime since last week, but down $1.415 since last year.

For data sources, questions or other comments please email me at BSLdesigns@hotmail.com. Have a fun and safe weekend.