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Consumer confidence in the United States rose to its highest point so far this year in April with expectations growing that the country’s economic downturn may be close to bottoming out.
The Conference Board, a US-based research house, said yesterday its Consumer Confidence Index rose to 39.2 points in April from 26.9 in March.
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Its Expectations Index also rose by close to 20 points to 49.5.
Lynn Franco, director of The Conference Board’s Consumer Research Centre said the sharp increase in the Expectations Index suggests that consumers believe the economy is nearing a bottom.
“However, this index still remains well below levels associated with strong economic growth."
