U.S. Consumers Grow Confident

Consumers continued to grow more confident in April as the The Conference Board Consumer Confidence Index, which rebounded in March, gained almost five points to reach its highest level since September 2008.

The Index is at 57.9 compared with 52.3 last month. Both components of the Index rose, with the Present Situation reading increasing to 28.6 from 25.2 and the Expectations portion jumping to 77.4 from 70.4.

“Consumers’ concerns about current business and labor market conditions eased again,” said Lynn Franco, director of The Conference Board Consumer Research Center. “And their outlook regarding business conditions and the labor market was also more positive than last month. Looking ahead, continued job growth will be key in sustaining positive momentum.”