Economic Confidence Reaches Three Year High

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There are a number of measure of consumer and economic confidence. One comes from the Conference Board, and another from the University of Michigan. Gallup has its own, and the most recent version showed economic confidence at the highest level in over three years.

The research firm reported that

The Gallup Economic Confidence Index reached -20 in March, up from -22 in February and its highest level since Gallup Daily tracking began in January 2008. The index has increased for seven straight months after falling to -52 during the federal debt crisis last August.

January 2008 was a month into the last recession, so many Americans were probably not caught in the financial vortex yet, housing was only at the start of its sickening plunge, and the worst job losses per month were ahead.

Now, the US economy has added 200,000 jobs five years in a row. Car sales reached four years highs in March. Retail sales have risen most months in the last twelve. Only the housing market is still entirely crippled.

Economist have tried to guess at Q1 GDP. It looks more and more likely that the figure will surprise on the high side toward 4%.