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Iceland consumers confidence rises in April

Published 04/28/2009, 07:43 AM
Updated 04/28/2009, 07:48 AM

STOCKHOLM, April 28 (Reuters) - Consumer confidence in crisis-hit Iceland rose slightly in April, the third consecutive month of recovery from a record low hit at the start of the year, data from pollster Gallup showed on Tuesday.

The confidence index came in at 39.0 points, up from 37.8 in March and the record low of 19.5 in January, pollster Gallup, which compiles the statistic, said in a statement.

The January reading was the lowest since measurements began in 2001 and coincided with the collapse of the former coalition government amid protests over its failure to prevent a financial crisis that has laid waste to the economy.

At the weekend, Iceland's caretaker government of the Social Democrats and Left-Greens won renewed power in early elections called after the collapse.

The volcanic island nation's banking system imploded last year under the weight of billions of dollars of debt accumulated from years of overseas expansion.

(Editing by Ron Askew)

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