May 9, 2008
Consumer Confidence Up After Six-Month Decline
After falling steadily for the last half year. U.S. consumer confidence rose slightly this month, according to the RBC CASH Index.
The survey of 1,000 U.S. consumers taken earlier this week put the index at 39.0 for May, up from its previous all-time low of 29.5 in April.
Consumers' attitudes about both current conditions and the outlook for the future improved. However, RBC said consumers are still concerned about job security. One in four respondents said job loss is likely in the next six months, up from 20 percent in April.
RBC is Canada' largest bank in assets and market capitalization.
The survey of 1,000 U.S. consumers taken earlier this week put the index at 39.0 for May, up from its previous all-time low of 29.5 in April.
Consumers' attitudes about both current conditions and the outlook for the future improved. However, RBC said consumers are still concerned about job security. One in four respondents said job loss is likely in the next six months, up from 20 percent in April.
RBC is Canada' largest bank in assets and market capitalization.
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