Consumer finance optimism increases slightly in April

Dollar Sign Upward Arrow Upward TrendThe Consumer Bankers Association (CBA) and AOL released data last week that showed a slight uptick in consumers’ finance optimism—the result of diminished concerns regarding their financial situation.

Last month, the CBA and AOL’s finance optimism index rose slightly to -4.8, coinciding with a two percent decrease in consumer concern related to their present financial situation.

The latest monthly survey also showed consumers have not heard much positive news regarding the economy. Only 33 percent of respondents in the survey said they have heard positive news regarding the economy, which may help explain why a majority of consumers said they are worried about the impact of the current economic and political situation on their finances.

A number of factors, including high grocery costs and gasoline prices that have risen for three consecutive months, could explain a lack of overall consumer optimism regarding their finances, according to the survey.

April’s uptick in consumer finance optimism follows two months of decline in February and March—the result of impending tax season, sluggish job growth, rising food prices and fluctuations in the stock market.

Comments are closed.