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2008 Economic Calendar |
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Resource Center » U.S. & Intl Recaps | Release Dates | Why Investors Care | Today's Calendar
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The Conference Board compiles a survey of consumer attitudes on present economic conditions and expectations of future conditions. Five thousand consumers across the country are surveyed each month. While the level of consumer confidence is associated with consumer spending, the two do not move in tandem each and every month. Why Investors Care
| Released on 4/25/06 For Apr 2006 | ||||||||||||
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Highlights
April's high gas prices didn't seem to hurt consumer confidence, which according to the Conference Board's measure rose to 109.6 from 107.5 in March and nicely above expectations of 105.5. But the gain was led by the present situation, which makes up 40% of the main index and which rose to 136.2 from 133.3. Expectations, the other 60% of the index, rose to 91.9 from 90.3 but the spread with the present situation remains very wide and points perhaps to less strength ahead. Note that the current spread of 44.3 points compares with a much narrower 27.1 this time last year.
Jobs readings were clearly good, with 29.1% saying jobs are plentiful, up 8 tenths, and only 19.6% sayings jobs are hard to get, down 8 tenths. Even the jobs outlook six months out was positive, with 15.7% seeing more jobs against 13.7% last month. Buying plans were mixed with homes well down as were appliances, but plans for cars were well up.
Bonds were dipping and the dollar gaining in reaction to the report, which was accompanied by a similarly strong existing home sales report. But the confidence reading may rattle the bond market through the day given that the data, compiled at mid-month, included the effect of high gas prices.
The Conference Board's consumer confidence index increased almost 5 percentage points in March to 107.2. The University of Michigan's consumer sentiment index had remained nearly unchanged in early April and this suggests that The Conference Board's attitude survey could remain at the March level. However, these two surveys are often at odds with one another.
Consumer confidence Consensus Forecast for Apr 06: 105.5
Range: 102.5 to 109
![[Chart]](chart.gif)
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Typically retail sales will move in tandem with consumer optimism - although not necessarily each and every month. |
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