May 7, 2009, NY – Driven by reduced concern
about current economic conditions and diminishing fears of job loss, US
consumer sentiment continued to rebound this month, 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.
"Better-than-expected news about the
economy and corporate earnings is helping consumers to recognize that the worst
is behind us," said RBC Capital Markets managing director Larry Miller.
"Their growing confidence is seen in the continued improvement of the RBC
Jobs Index, which suggests that consumers have less fear of losing their jobs.
That may lead to a revival in spending, further driving economic
recovery."
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