More good news consumer confidence up February

The Index is at 70.8 (base 1985=100), that is up from 61.5 in January. The Present Situation Index increased to 45 from 38.8. Other key indicators rose to 88 from 76.7 in January.  We are seeing better economic data everywhere now.

The public’s opinion of the current economics overall conditions was favorable in February.  Even business conditions are “good” increased slightly to 13.3 percent from 13.2%; while those claiming business conditions are “bad” dropped to 31.2 percent from 38.3% Consumer even believe the labor market was also looking better, there seems to be more jobs out there now.

The short term folks are happier about the than last month. People are upbeat about the labor market too; they foresee more jobs in the months ahead.  The only issue we can see right is the tension on rising gas prices; however this rise we believe will short term.