Author: David Templeton, CFA, Principal and Portfolio Manager
This week the Conference Board released its report on April's consumer confidence and the reading is following CEO confidence higher. The consumer confidence reading was reported at 121.7 a sharp month over month increase of 18.6 points. The size of the month over month increase is one of the highest monthly changes reported by the Conference Board. The second chart below shows the April reading along with the Conference Board's CEO Confidence measure.
The consumer confidence report noted April's reading is the highest since February 2020. Lynn Franco, Senior Director of Economic Indicators at The Conference Board noted. “Consumers’ assessment of current conditions improved significantly in April, suggesting the economic recovery strengthened further in early Q2." With CEO confidence near a record high along with sharply improving consumer confidence, these are positive attributes signaling continued strength in economic activity in the near and intermediate term.