Cleaning & Restoration Breaking News

Consumer Sentiment Shows Surprise Jump

May 16, 2003
/ Print / Reprints /
/ Text Size+
NEW YORK (Reuters) - U.S. consumer confidence rose more sharply than expected in early May, as Americans looked ahead to better economic times, market sources said on Friday.

A survey by the University of Michigan rose to 93.2 from April's 86.0, faring better than a forecast range of 82.0 to a high of 92.3, the sources said.

The survey's component index on consumers' current view on the economy fell to 94.1 in early May from April's 96.4, but the index of consumers' future expectations jumped sharply to 92.7 from April's 79.3, the sources said.

Consumer confidence is seen as a predictor of consumer spending, which drives two-thirds of the U.S. economy.

The data were an antidote for financial markets, shaken this week by growing concerns over deflation and disappointing weekly retail sales figures, economists said.

"A positive surprise for a change. The overall tone of the data this week has been disappointing," said Doug Porter, senior economist at BMO Nesbitt Burns in Toronto.

The University of Michigan survey ran counter to the most recent insights on consumer confidence, which have shown sentiment reversing course and declining again as domestic economic concerns return to the fore.

Market reactions to the University of Michigan survey were muted, although U.S. Treasuries curbed early gains on the data. Markets had focused on April consumer prices, which fell 0.3 percent according to figures released earlier on Friday.

"The inflation news is still dominating people's interest, and there's nothing in the Michigan numbers to change that focus," said Steve Ricchicuto, chief U.S. economist at ABN AMRO Inc. in New York.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.



Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.


Have a limited marketing budget but realize the importance of neighborhood marketing? Try doorknob hangers, a low-cost, yet highly effective way to drum up more business. In this episode, John Braun discusses the value of this tactic as well as what you should include on the materials you're hanging.
More Podcasts

ICS Cleaning Specialist Magazine


2014 September

The September issue of ICS features stories on moisture detection, disinfectant services, neighborhood marketing, then we discuss the last level of being phenomenal, and cool products.

Table Of Contents Subscribe

Social Media

Social media is a good way to regularly keep in touch and interact with current clients and reach potential ones. What social mediums do you use in your cleaning/restoration business?
View Results Poll Archive


Get Paid! book cover
Get Paid! (ebook)
Over 30 authors – over 40 articles…from attorneys, contractors, consultants, instructors and others, both inside and outside the restoration industry. R & R, C & R and Cleanfax, opened their archives and gave us the best they had, other chapters were created just for the “Get Paid!” book and its readers. And every one of them has ideas for how to get paid what you are owed.

More Products


Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view


Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view


facebook_40.png twitter_40px.png youtube_40px.pngcrc logo