Consumer Confidence Rebounds Sharply

Consumer confidence is unquestionably important for the economic recovery.  While this metric is not a measure of any specific performance, such as manufacturing activity or unemployment claims, how consumers feel about the future will ultimately decide when this slump will end.

The graph below show that consumer confidence improved dramatically over the recent week.  In fact, it took only five days for it to recover the losses over the last five months.  Of course, it can drop just as quickly, but nevertheless it is a good sign.