Posted by: jeb1 | February 3, 2011

Consumer Confidence Rises

Washington Business Journal – by Jeff Clabaugh

Date: Tuesday, January 25, 2011, 11:38am EST

Date: Tuesday, January 25, 2011, 11:38am EST

Two reports on consumer confidence shows it rose in January, with one report showing Americans’ confidence in the economy is the highest in almost three years.

The Conference Board’s monthly consumer confidence index rose more than expected this month, and now stands at its highest level in eight months. According to its monthly survey, the number of Americans who think jobs are plentiful, who think present economic conditions are good and who expect an increase in incomes this year all rose.

A separate survey, conducted by the Consumer Electronics Association in Arlington, suggests consumer confidence is at a 35-month high. The CEA Index of Consumer Expectations rose for the sixth consecutive month in January.

“The economy continues to improve and individuals are taking note,” says Shawn DuBravac, CEA’s chief economist. “With consumer sentiment higher than it’s been since early 2008, and six straight months of growth, consumers are feeling better about the economy and their financial futures.”

The trade group also measures consumer confidence about spending on technology, and says that index posted its highest January reading since it began the survey.

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