This information is compiled by an affiliate group of the Royal Bank of Canada entitled CASH (consumer attitudes & spending by household.) The RBC provides financial services to over a million and a half American clients.
The CASH report reported the greatest increase since the month of October 2004 when the index measured 93.5. The current index figures are based on the attitudes of 1,002 American consumers, and currently are at 83.8, a rating which is currently going up from 55.0 just last month. Economist analysts attribute the boost in confidence levels to the installation of the new congress along with continuing tight labor conditions.
The index findings report that 38% of consumers believe that real estate would be a good investment this month- up from 36% in December. Attitudes towards individual finances are unchanged from December. Currently 40% of consumers believe that their personal financial situation will be better in the next six months. 44% of people surveyed believe that it is a good time to invest in the stock market- up 3 points from December.
From the corporate viewpoint, individual CEO confidence level is on the rise as well. In the third quarter of 2006 confidence levels amongst CEOS was rated on an index level of 44. The current index rating stands at 50. On this index, any reading of 50 points or higher is a reflection of more positive responses than negative.
The survey of CEOs includes 100 leaders in the corporate spectrum of industry.
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