The Conference Board Consumer Confidence Index revealed a positive turn from April to May. According to ACA International, “The index now stands at 83.0 (1985=100), up from 81.7 in April. The Present Situation Index increased to 80.4 from 78.5, while the Expectations Index edged up to 84.8 from 83.9 in April.”
It would seem consumer confidence is improving in many aspects, particularly towards the labor market. According to the confidence index, the percent of those claiming jobs were “plentiful” rose while the percent of those who felt jobs were hard to come by decreased.
It would also seem that expectations are upbeat concerning the short-term outlook on things; such as, the economy, personal finances, and jobs. According to ACA International, “The percentage of consumers expecting business conditions to improve over the next six months edged up to 17.5 percent from 17.2 percent, while those expecting business conditions to worsen decreased marginally to 10.2 percent from 10.5 percent.”
In addition, the proportion of consumers expecting their incomes to grow has increased from April to May; this percentage increased from 16.8 to 18.3 percent. However, it should also be noted that those expecting their incomes to drop also increased from a percentage of 12.9 to a percentage of 14.5.
While the economic recovery may not be as swift as some would like it to be, economic reports over recent weeks have revealed growth and positive changes. Forbes contributor, Kevin Mahn states, “I believe that the U.S. economy is not at risk of retreating, thanks in large part to an activist Federal Reserve waiting in the bullpen, and that the stock market is poised to experience a strong second half of this year, though there will likely be more intermittent bouts of short-term volatility along the way.”
In light of this, businesses will be in need of flexibility to react to the upcoming changes and opportunities that will likely arise. Flexibility is key for any business. It is necessary to have flexibility to react to changes, opportunities and needs, especially during times of growth in the economy.
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