Looking ahead, the CEOs are cautiously optimistic but not as optimistic about the short-term outlook as they were at the end of 2004.

[Consumers] are more optimistic about the outlook than last month. Historically, this trend is prevalent during a recovery.

You have to have a long-term outlook on both. But we're optimistic that we can get both of them done in the short-term.

So far it feels good to be ahead. I'm cautiously optimistic.

The swift outcome in the Middle East has helped quell consumers' short-term concerns. While an increase of this magnitude occurred after the Persian Gulf War in 1991, this post-war surge differs in that both components of the index posted gains.

We are looking to jumpstart the program, ... This is not a short-term fix.