US consumer confidence up in April from yr-low – IBD

NEW YORK, April 13 (BestGrowthStock) – U.S. consumer confidence
rebounded in April after hitting in March its lowest level in a
year, boosted by stock market gains and modest job market
improvement, a research group said on Tuesday.

Investor’s Business Daily and TechnoMetrica Market
Intelligence said their IBD/TIPP Economic Optimism Index rose
to 48.4 in April from March’s reading of 45.4.

Readings above 50 indicate optimism, while those below 50
point to pessimism.

Last month marked the gauge’s lowest level since March
2009. It now stands exactly at its 12-month average and 4
points higher than the 44.4 level IBD reported in December 2007
when the recession began.

“Reports of a 162,000 jump in jobs for March certainly
aided consumers’ perception of a modest improvement in the
economy,” said Terry Jones, associate editor of Investor’s
Business Daily.

“No doubt, the Dow Jones industrial average’s flirtation
with the 11,000 level for the first time since late 2008 also
gave the economy a shot in the arm” Jones said.

The IBD/TIPP surveys more than 900 adults generally in the
first week of the month. The survey has a margin of error of
plus or minus 3.3 percentage points.

Stock Research Tools

(Reporting by Camille Drummond, Editing by Chizu Nomiyama)

US consumer confidence up in April from yr-low – IBD