Consumer Confidence Rises For Second Straight Month
Written by James Conroy
Index could be a good sign for small businesses and the overall economy.
In what may be good news for small business owners across the country, a recent report finds that consumer confidence is up - which may mean more business for entrepreneurs.
The Conference Board Consumer Confidence Index shows that the consumer confidence increased more than 14 points in May and now has reached 54.9. This is the second month in a row that the index has seen a significant gain, which may be a sign that the economy is poised for a rebound.
Lynn Franco, director of The Conference Board Consumer Research Center, says the index now stands at its highest point in the last eight months and indicates that consumers feel the economy is getting back on its feet.
"Looking ahead, consumers are considerably less pessimistic than they were earlier this year, and expectations are that business conditions, the labor market and incomes will improve in the coming months," Franco said. "While confidence is still weak by historical standards, as far as consumers are concerned, the worst is now behind us."
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