Amid the gloom of higher gas prices and a slumping housing market there appears to be a ray of hope.
The New York-based Conference Board said that its Consumer Confidence Index stands at 51.9 for July. Although that’s about half of what it was a year ago — the reading was slightly higher expected.
Also, the CEO of consumer staples giant Colgate-Palmolive predicted Tuesday that the company would have double-digit earnings per share growth for 2009.
Colgate also said its second-quarter profit grew 19 percent as worldwide sales were strong and Colgate used price increases to offset rising commodity costs for corn, soybeans and oil.