US Consumer Confidence: Consumption has momentum going into Q2 - Wells Fargo
|Data from the Conference Board released today showed that the Consumer Confidence rebounded in April. Analysts at Wells Fargo point out that personal consumption has momentum going into Q2, considering also yesterday’s income and spending report. They highlighted that the employment outlook is improving.
Key Quotes:
“At 129.2, the present level of consumer confidence is in-line with its 12-month average of 130.1 and essentially splits the difference between the euphoria in October when the index hit a 17-year high of 137.9 and the lows in January when it fell to 121.7.”
“Consumers regaining some lost confidence is the latest checkmark in the right column for the consumer outlook and offers scope for April retail sales to build on the gain in March.”
“In recent months, we’ve highlighted that the one-month change in the share of consumers expecting more jobs posted some of the biggest declines in 30 years, but this measure improved in April.”
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