Consumer Confidence Rises to Five-Year High

Click here to write a Letter to the Editor.
Consumer confidence reached the highest level in five years, the New York-based Conference Board said Tuesday.The rise to a 112.5 from a 110.2 in January was higher than economists’ forecasts of a decline to 108.5, Bloomberg reported.The survey’s present-conditions index rose to 139 from 133.9 in January, while a gauge of expectations for the next six months rose to 94.8 from 94.4.The consumer confidence index is a predictor of consumer spending. When people are feeling less confident about the economy, they are less likely to spend money, which decreases demand for trucking services. Every month the Conference Board surveys 5,000 households on general economic conditions, their employment prospects and spending plans.