Consumer Confidence at 3 Yr. HIGH

Consumer Confidence figures released today show that the consumer is increasingly confident regarding the state of the American economy. Further consumers now feel that job are in general plentiful. Consumer confidence figures reached a three year high to 104.1. The present situation index rose to 120.7 Meanwhile the future expectations index 95.8 in June. All indexes showed meaningful improvement.

While one months figures never constitute economic Nirvana, the positive trend is well established.

Consumer Confidence at 3 Yr. HIGH Link to Market Watch dot com

Bush's approval rating: 42%

All this confidence while the oil price is souring past $60. While we are bleeding good paying jobs outside of Washington. Seems mighty fishy them numbers. Wait for a restatement next moth.

'But watch out for a dip next month in the wake of the renewed spike in gas prices.'

''And, with consumers in better spirits, and job concerns remaining relatively steady, there is little reason to expect a dramatic shift in consumers' spending,' Franco said.

'At this level the index is consistent with spending growth of about 3.5%, in line with recent hard data,' said Ian Shepherdson, chief U.S. economist for High Frequency Economics. 'But watch out for a dip next month in the wake of the renewed spike in gas prices.'

For the first time in nearly three years, the proportion of consumers who believe jobs are plentiful was as large as the number who think jobs are hard to get.

The percentage of consumers who say the economy is 'bad' fell to 15.5% from 16.4%, while the percentage saying the economy is good was nearly unchanged at 26.9%.

Looking ahead, consumers are less confident about the job market, with 16.5% saying jobs will become less plentiful vs. 15.2% who say more jobs are coming.'

Vacations?