“The swift outcome in the Middle East has helped quell consumers’ short-term concerns,” stated Lynn Franco, director of The Conference Board’s Consumer Research Center. “While an increase of this magnitude occurred after the Persian Gulf War in 1991, this post-war surge differs in that both components of the index posted gains. The increase in the Present Situation Index, especially in labor market conditions, may very well signal a turnaround in confidence and a more favorable outlook for consumer spending.”

The Expectations Index increased to 84.8 from 61.4. The Present Situation Index improved to 75.3 from 61.4.

Publication date: 04/28/2003