Americans' economic enthusiasm rallied slightly this month, increasing nearly 10 points and reversing six straight months of declining confidence, according to the most recent results of the RBC CASH (Consumer Attitudes and Spending by Household) Index. The survey, which measured the attitudes of 1,000 consumers earlier this week, found respondents more positive about their future economic prospects, but still worried about job security. As a result of these mixed attitudes, the overall RBC CASH Index, released today by RBC, stands at 39.0 for May, up from its previous all-time low of 29.5 in April.

"Consumers are beginning to look beyond the current economic downturn, as evidenced by the increase in their expectations for the future," said T.J. Marta, economic and fixed income strategist for RBC Capital Markets. "The fact that Americans' perception of the jobs environment weakened is not inconsistent with the rebound in the overall index, as the job market tends to lag the economic cycle."

The RBC CASH Index is a monthly national survey of consumer attitudes on the current and future state of local economies, personal finance situations, savings and confidence to make large investments. The Index is composed of four sub-indices: RBC Current Conditions Index; RBC Expectations Index; RBC Investment Index; and, RBC Jobs Index. The Index is benchmarked to a baseline of 100 assigned at its introduction in January 2002. This month's findings are based on a representative nationwide sample of 1,000 U.S. adults polled from May 5-7, 2008, by survey-based research company Ipsos Public Affairs. The margin of error was +/-3.1 per cent.

  Highlights of the survey results include:

  -  Consumers' economic outlook brightened this month, as evidenced by the
     RBC Expectations Index, which increased more than 24 points in May,
     but remains in negative territory for the fifth consecutive month and
     stands at -24.1. Currently, fewer than one-third (32 per cent) of
     Americans believe their local economy will be weaker in the near
     future, down from 38 per cent last month.

  -  The RBC Current Conditions Index, at 57.4, showed a slight increase
     when compared to the 54.6 registered last month. The increase in the
     index is being driven by improving attitudes toward the current state
     of personal finances, with 30 per cent of consumers rating personal
     finances as strong, compared to 25 per cent in April. Attitudes toward
     the current state of their local economy remained statistically
     unchanged in May, with 15 per cent of consumers again this month
     rating their local economy as strong, and 42 per cent of consumers
     rating their local economy as weak, compared to 41 per cent in April.

  -  Americans' attitudes toward investing improved slightly in May,
     increasing the level of the RBC Investments Index to 60.7, up more
     than four points from the 56.4 level recorded last month. Consumers
     reporting that the next month will be a good time to invest in the
     stock market held steady at 27 per cent, compared to 28 per cent in
     April. Confidence in real estate investment also held steady in May.
     More than one-third of consumers (37 per cent) believe the next 30
     days will be a good time to buy real estate, compared to 38 per cent
     last month.

  -  At 93.7, the RBC Jobs Index dropped to the lowest level since the
     index began in January 2002. Anxiety over future job loss increased in
     May, with one in four (26 per cent) Americans reporting job loss is
     likely in the next six months, up from 20 per cent in April. Consumer
     confidence in personal job security also declined slightly this month,
     dipping one point to 27 per cent, compared to 28 per cent in April.

About RBC

RBC (RY on TSX and NYSE) is Canada's largest bank as measured by assets and market capitalization and one of North America's leading diversified financial services companies. In the United States, RBC provides personal and commercial banking, wealth management, insurance, corporate and investment banking and transaction processing services to about two million clients through RBC Bank, RBC Insurance, RBC Wealth Management and RBC Capital Markets. The company employs approximately 70,000 full- and part-time employees who serve more than 15 million personal, business, public sector and institutional clients throughout offices in North America and 36 countries around the world. For more information, visit www.rbc.com.