U.S. consumer confidence rose in April, despite the war in Iraq, a new survey found.
Investor's Business Daily and TechnoMetrica Market Intelligence said their Economic Optimism Index rose to 56.4 points in April from 48.8 the previous month. The study was the first to gather consumer responses after the start of the Iraq conflict. Any number above 50 indicates optimism about the economy.
"The military success so far lifts some of the uncertainty ... which had been a significant drain on consumers' confidence in the past few months," said Raghavan Mayur, president of TIPP, a unit of TechnoMetrica Market Intelligence.
The survey is based on interviews with 900 consumers, and has a margin of error of plus or minus 3.3 percentage points.
The preliminary reading on the April University of Michigan consumer sentiment index is expected this Friday, and economists predict a rise to 79 from 77.6 the prior month, which was its lowest level since September 1993.