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Article: CONSUMER INDEX'S REBOUND BODES WELL FOR CONSUMER SPENDING.(market data and statistics)(Brief Article)
- Article from:
- Footwear News
- Article date:
- June 4, 2001
- Author:
CopyrightCOPYRIGHT 2001 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Consumer confidence snapped back nearly six points in May, following a sharp decline in April, as consumers became increasingly optimistic about the economy and job prospects.
The Conference Board's Consumer Confidence Index, a leading indicator of consumer sentiment toward spending, rose to a better-than-expected 115.5 in May from 109.9 last month.
While soaring energy prices and a wave of corporate layoffs stunted confidence in recent weeks, the latest findings indicate that consumers are indeed becoming more upbeat about the prospects of an economic recovery.
"We have yet to see deterioration of consumer confidence that might ...