Consumer confidence on the rise

04.13.09
By Miriam Lamey

Spring welcomes new life and beginnings and this season, it seems that many people have already taken a fresh, positive view of their finances.

The Royal Bank of Canada recently announced the results of its Consumer Attitudes and Spending Index (RBC CASH). The index demonstrated its first significant improvement since September 2008.

The CASH Index is a monthly survey of general consumer confidence, polling 1,000 Americans for their thoughts on the present and future state of local economies, their financial situations and savings, plus their confidence in making significant investments.

In March, 70 percent of respondents felt it unwise to invest in the stock market for the remainder of that month - the next 30 days. This month, the figure dropped to 61 percent. Fifty-one percent have more confidence in making a large real estate purchase, while last month, only 43 percent thought it a good idea.

It seems more Americans feel optimistic about their own money management. A mere 13 percent of respondents think that their personal financial situation will deteriorate in the next 30 days.

Some people expressed hope for economic improvement on a local level. Thirty-nine percent feel that their community's economy will strengthen in the next month.

Americans surveyed in this poll seem to be more confident about their job situation, or at least believe they are less likely to face layoffs. In March, 39 percent of respondents indicated that it was quite possible that someone with whom they were acquainted would lose a job. This month, results show that this figure has dropped to 37 percent, suggesting that some feel more secure about employment.

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Some consumers are now ready to make a real estate purchase