Yesterday, a survey was released by the Conference Board in regards to the Consumer Confidence Index. According to the Conference Board, a business research firm, the consumer confidence index rose to 52.5 points in March, from a revised figure of 46.4 in February reversing some of the deep pessimism felt last month. The February 46.4 marked the lowest level since April 2009 and erased three consecutive months of improvement so all eyes were on this current survey due out yesterday. Analysts were expecting a number of about 50 so the 52.5 was very encouraging! That recovered at least half of what was lost in February.
The monthly poll asks 5,000 US households a series of questions about their level of confidence in the economy. The results produce an index were 100 points would signify absolute confidence, while zero represents absolute pessimism.
The confidence report came out the same day as a key home price index (up nearly 4 percent from its bottom in May 2009, but still almost 30 percent below its May 2006 peak). Housing along with Job Market challenges are the primary factors in slowing down a rebound. The Labor Department with report on Friday, but economists are expecting unemployment to remain steady at 9.7%. Florida's unemployment rate remains 6th in the country at 12.2%! That is why we are also watching the impact on job growth by the Rapid Rail project... about to ramp up its construction for a Tampa to Orlando Fast Train.
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