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Consumer Confidence Index Encourages Economic Rebound


StocksHaven Investments news portal takes a closer look at the Consumer Confidence Index as of May 2009, which displays high optimism towards a faster than expected economic recovery.

Confidence among U.S. consumers jumped in May by the most in six years, fueling speculation the economy will recover later this year.

The U.S. Consumer Confidence Index (CCI) is an indicator designed to measure consumer confidence, which is defined as the degree of optimism on the state of the economy that consumers are expressing through their activities of savings and spending. Global consumer confidence is not measured. Country by country analysis indicates huge variance around the globe. In an interconnected global economy, tracking international consumer confidence is a lead indicator of economic trends.

Stock Market Sentiment: This added confidence should definitely prove to be a boost for bank stocks. Look for (NYSE:C), (NYSE:BAC), (NYSE:JPM), (NYSE:WFC), (NYSE:AIG) and (NYSE:GS) to make a push in the coming months. Keep an eyeout on (NYSE:FRE) and (NYSE:FNM), despite being majority government owned there is some potential once the housing market begins to heal as well.

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