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The City Café

For those interested in sharing ideas and perspectives regarding local government.

The economy is already getting some good news this week. Yesterday the Conference Board released the May consumer confidence indicator — which appears to have rebounded to it’s highest mark since September of 2008. According to the Conference Board consumer confidence nationwide is at 54.9, which is still historically low, but is much higher than the 42.8 that economists projected for May. 

Lynn Franco, director of The Conference Board Consumer Research Center, said in a statement.

“While confidence is still weak by historic standards, as far as consumers are concerned, the worst is now behind us.”

You can read an article about the consumer confidence indicator soaring here: MSNBC 

There are still important economic indicators to be released this week that we will be watching for: 

  • Wednesday — Existing home sales for April (Expected +2.0% 
  • Thursday — Durable goods for April (Expected +0.4%) 
  • Thursday — New home sales for April (Expected +1.1%) 
  • Friday — Personal consumption for the 1st quarter (expected up 2.0%) 

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