Consumer Confidence Hits Two-Year High

[southerngale]

NEW YORK (AP) - Consumer confidence rose for the fourth straight month in July thanks to steady improvements in the job market, the Conference Board reported Tuesday, putting the indicator at a two-year high.

The New York-based research group reported that its index for consumer confidence rose to 106.1 in July, up from 102.8 in June and well ahead of the figure of 102.0 that investors had been expecting. It was the highest level for the indicator since June 2002.

Lynn Franco, director of the Conference Board's Consumer Research Center, said the gains were fueled by a better outlook for jobs, "and unless the job market sours, consumer confidence should continue to post solid numbers."

The survey is based on a sample of 5,000 U.S. households.



http://apnews.myway.com/article/20040727/D84365CO0.html