Consumer Confidence in Economy Improves

Published on:
12 September 2006 at 10:21 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00017975-consumer-confidence-in-economy-improves/

By Jeannine Aversa, Associated Press

Consumer confidence in the economy’s prospects improved in early April even as gasoline prices and borrowing costs marched higher.

The RBC CASH (Consumer Attitudes and Spending by Household) Index, based on results from the international polling firm Ipsos, showed confidence at 89.4 in early April, up from March’s 86.2. The new reading also was better than a year ago, when consumer confidence clocked in at 84.5. “It’s a positive sign,” said Stuart Hoffman, chief economist at PNC Financial Services Group.

Overall, consumers are in a generally good frame of mind, economists said.

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