Gasoline prices have stabilised and the stock market has not made much progress recently. But with real incomes buoyed by the low level of gas prices and jobless claims back at multi-decade lows we see few reasons for consumers’ mood to darken. What’s more, the University of Michigan measure of confidence rose in April. “We estimate that the Conference Board’s measure of consumer confidence (15.00 BST) strengthened to an eight-year high of 105.0 in April, from 101.3 in March. This would be consistent with a considerable acceleration in consumption growth in the second quarter.” notes Capital Economics
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