RISMEDIA, September 10, 2009—Although consumers’ hopes for their local economies and personal finances improved in the past month, the most recent results of the RBC CASH (Consumer Attitudes and Spending by Household) Index rose by only 2.5 points to stand at 40.0 – up from a 37.5 reading in August.
While the Index reached its highest level since May 2009, a close reading of the results finds consumers remaining cautious about economic recovery.
“The top-line RBC Index continues to rise, but consumers clearly remain cautious,” said RBC Capital Markets U.S. economist Tom Porcelli. “The headline received a boost from expectations about the future, but the here-and-now ‘current conditions’ index fell yet again. Given the strong relationship that exists between the current conditions index and consumer spending, this is not an encouraging signal, as the rise in the overall RBC Index should be taken with a grain of salt.”
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