The Conference Board Consumer Confidence Index® jumped 69.0 in April to 76.2 for May, an increase well beyond what most analysts were expecting.
We’ve seen houses being built. We’re seeing cars flying off the sales lots. We’re even seeing help wanted signs starting to show up here and there.
But now, we have the facts. Consumers, the main drivers of our economy, are in a good mood, and when they are in a good mood, they spend money, and drive the economy upward.
This increase in consumer confidence, the second monthly gain in a row, comes in spite of the payroll tax increase and the sequester spending cuts.
For businesses, it’s time to stop “recession-doom and gloom” type of thinking. It’s time to expand your inventory, re-start your advertising, update your website, and start planning for success.
OK, it’s not exactly “Happy Day’s are Here Again,” but if consumer confidence is growing, and keeps growing, we may finally be on the highway to recovery, and you don’t want to be the guy stalled out along the shoulder watching everyone else speed by.
You can read more about the latest Conference Board survey by clicking here.