NEW YORK ( TheStreet) -- Investors may want to consider the following 10 consumer goods stocks in light of data showing improving consumer sentiment and spending.
For the month of April, the Michigan Consumer Sentiment Index rose to 65.4 from a revised 63.8 reading in March and ahead of the 64.5 analyst consensus from
During March 2011, U.S. retail sales grew 0.4% on a month-over-month basis and 7% on a year-over-year basis. Specifically, spending in clothing stores was up 0.6%, building and gardening materials purchases increased by 2.2% and furniture sales jumped 3.6%.
In a recent report, IHS Global Insight estimated that real gross domestic product will expand between 3.5% and 4.0% in the second half of 2011 as an improving job market boosts consumer spending. During March, the U.S. economy added 216,000 jobs, and the unemployment rate declined to 8.8% from 8.6% in February.
We have selected 10 consumer goods stocks that could rise as much as 62% over the next year, based on consensus analyst estimates from
. These companies are in categories including apparel, accessories, baby products and furnishings.