Consumer confidence skyrockets
By Furniture Today Staff -- Furniture Today, April 7, 2002
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NEW YORK — The Conference Board's Consumer Confidence Index posted substantial gains in March. The Index rose 15.2 points from February to 110.2, with both the Present Situation Index and Expectations Index up sharply, by 15.1 and 15.3 points, respectively.
All nine regions posted gains, with the highest increase in the South Atlantic, up 20.2 points to 121 points. Close behind was the East North Central region, which was up 20 points to 103.8.
Looking at present conditions, 81.9% of survey respondents said business conditions were either good or normal, compared with 77.2% in February. The number of respondents who said jobs were hard to get declined from 22.6% in February to 20.8% in March.
Evaluating the future, 93.7% of survey participants said business conditions in six months would be the same or better, compared with 88.9% in February. And 86.4% said that more or the same number of jobs would be available in six months, up 5.9 percentage points from February.
The index is based on a representative sample of 5,000 U.S. households.
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