A look at consumer confidence [Video]
Posted on Wednesday, April 20, 2016 at 3:45:59 PM
Consumer confidence is one of the more closely monitored economic indicators among national and local analysts. Suffice it to say, there was a lot of room for improvement throughout the past decade. However, a healthier job market, rising residential values and sales and more are combining to put consumer confidence in a very comfortable position so far in 2016.
The Wall Street Journal reported that the Conference Board's latest index on consumer confidence revealed a healthy gain of 2.2 points between February and March, rising from 94 to 96.2. This is good news, as the source noted that any score above 90 is generally viewed as favorable and indicative of a healthy range of sentiments among consumers regarding the economy.
Consumer confidence tends to translate to stronger gains in retail sales, closings on home purchases and other economic drivers as well as the consistently healing sentiments of the average individual might translate to even bigger gains in the coming months. Homeowners who are looking to sell their current homes and move on to the next ones will likely enjoy a greater freedom to do so.