Customer (physical labor jobs) certainty reaches six month high-level

August 27th, 2009 admin Posted in employment |

By Roberto Garabell

The customer confidence level has increased at a fairly steady rate for a couple of months, but the information that came out today were a large amount higher than projected as far as the jump goes. The Conference Boards Shopper Confidence Index has a 14.1 point rise; growing to 54.9 for the month of April. Economists were predicting a Confidence Index of 42.3. This comes just months after Februarys lowest level ever of 25.3.

The customer confidence interval is determined by a mail survey of a sample of 5,000 households in the United States from May 1st to May 19th.

The confidence interval increase means that a lot of people are feeling more hopeful about the outlook of the economy counting unemployment numbers. However, it is likely that the unemployment rate will hit just above 9% in the next month or two. It is nice to see that people believe that things are getting improved even when there are is plenty of bleak news coming from financial indicators.

Today when the customer confidence index rose, so did stocks. The Dow Industrial Average rose over 200 points, or 2.4 percent today after the news about customer confidence came out.

The customer confidence index started slowing down in October, when it declined to 38.8. At the occasion, it was the lowest number that had ever been seen since the Conference Board started logging the confidence catalog.

This, by no means, means that folks will begin throwing their cash away on costly clothing or other stuff that have been deemed needless in the past few months. What was once just something that may have been a indulge is now seen as frivolous and is possibly frowned upon in some collective circles.

One more reason that people are not spending their cash on those things is that there are not as numerous jobs going around anymore and that the actual wealth going around is much fewer than it was even a year ago. With people having fewer and fewer money, I am actually pretty surprised that the consumer confidence index has risen. Perhaps people are getting so worn-out of the current economy that they are being overly hopeful on the surveys that are being mailed.

I mean, even this information is coming out in a positive light following the news last week that home prices have fallen in the sharpest decline in the first quarter of the year.

In my positive point of view, perhaps this is the beginning of some sort of financial jump. If you follow the stock marketplace, commodities marketplace, and other indicators, then perhaps things are starting to raise up.

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