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Consumer Sentiment Rallies

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Consumer sentiment in the US rebounded this month on reduced concern about current economic conditions and diminishing fears of job loss, according to the most recent results of the RBC CASH (Consumer Attitudes and Spending by Household) Index.

As a result, the overall RBC CASH Index stands at 43.0 for May 2009, up from 38.3 in April and from 1.6 in February, its all-time low. This is the first three-month rally for the Index since the last quarter of 2005.

The RBC Jobs Index saw a rise of 9.2 points in May to 54.4, compared with 45.2 last month, the second consecutive increase in the Jobs Index following six straight months of declines.

The RBC Current Conditions Index currently stands at 45.0, up 9.2 points from last month’s 35.8. Consumers’ confidence in both their local economy and their personal finances continued to show small improvements in May. The share of consumers who say that their personal financial situation is strong rose slightly this month, to 25%, compared with 23% in April.

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