Unexpected gain in American consumers confidence

There's been an unexpected rise in American consumer confidence according to a regularly published survey.

Despite the recent turbulence in world stock markets, a survey of the American public released on Tuesday showed more people are optimistic about economic and employment prospects than in February.

Most economic analysts had predicted a fall in confidence.

Stock markets in the United States and Europe rose sharply following the survey's publication.

Earlier, the former United States Treasury Secretary, Lawrence Summers, had said concerns over the health of the American economy had been overplayed; but the BBC economics correspondent says the improved confidence does not mean the danger to the US economy is over. Our correspndent says some analysts now believe the Federal Reserve is now less likely to cut interest rates before the next meeting of its policy making committee in May.

From the newsroom of the BBC World Service