U.S. Economy: Consumers Gain Confidence as Job Outlook Picks Up

Consumers in the U.S. turned more optimistic in April as the growing economy raised hopes jobs will become available.

Americans’ outlook for the next six months climbed to the highest level since October 2007, two months before the recession began, as almost one in every five people polled thought the world’s largest economy and employment would improve. Another report showed home prices in the 12 months to February rose less than forecast, showing the housing market recovery will take time to unfold.

“The sentiment numbers tell us the labor market is improving, suggesting the consumer is going to continue to spend,” said Nigel Gault, chief U.S. economist at IHS Global Insight in Lexington, Massachusetts, whose confidence estimate of 57 matched the highest. “We still don’t have any firm, underlying housing recovery in place yet.”

Read Full Article from BusinessWeek

- Posted: 2010-04-27 12:13:50

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