"While the economy has not turned around yet, the worst may well be over," says Lynn Franco, director of The Conference Board's Consumer Research Center. "The upturn in confidence is being driven by growing confidence about the business outlook and job prospects. Consumer expectations for the future are now higher than they have been in more than a year."
Consumers are more upbeat about economic prospects six months from now. Those expecting an improvement in business conditions rose to 25%, up from 22.2% in December. Those anticipating conditions to worsen fell to 9.6%, down from 11.6%.
The Conference Board's Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households.