Consumer Sentiment in U.S. Unexpectedly Surges to 13-Year High

by Agnel Philip
October 13, 2017

U.S. consumer sentiment unexpectedly surged to a 13-year high as Americans’ perceptions of the economy and their own finances rebounded following several major hurricanes, a University of Michigan survey showed Friday.

The jump in sentiment, which was greater than any analyst had projected, may reflect several trends: falling gasoline prices following a hurricane-related spike; repeated record highs for the stock market; a 16-year low in unemployment; and post-storm recovery efforts driving a rebound in economic growth.

The advance in the main gauge spanned age and income subgroups as well as partisan views, according to the report. Almost six out of every 10 consumers thought the economy had recently improved in early October, the university said.

Not all measures in the survey showed big gains: the share of consumers reporting improved finances held steady at about half, while the proportion expecting gains in their financial situation fell slightly to 40 percent.

2 Comments - what are your thoughts?

  • Tiger says:

    Oh for sure and this Halloween I will celebrate. Because Halloween in my family meant fun, fantasy and the one night out of the year all of us could be children again and play at make believe.

    I will buy the candy, the costume and I will decorate my yard and send my grands fun things and just enjoy, things are looking up.

    1. Pete says:

      After the horrors of the past eight year reign of the “glorious leader” things seem to be on the mend.
      Trump is about as unconventional as they come but he does get the job done.

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