by Countable | 10.16.17
Consumer sentiment exploded to a 13-year high in October, reaching numbers not seen since 2004.
The University of Michigan consumer sentiment index measures 500 consumers’ attitudes on future economic prospects related to personal finance, spending, and overall business climate.
Increases in sentiment was found across all age groups, income levels, and political beliefs.
Trump touted the positive report, tweeting:
This surge of consumer confidence is joined by a number of other positive economic indicators:
On Monday, the Dow Jones Industrial Average, Nasdaq, and S&P 500 set all-time closing highs.
Economic growth in the second quarter reached a two-year high on stronger business and consumer spending, according to a report by the Commerce Department.
On Sunday, Federal Reserve Chair Janet Yellen told an international banking seminar, "Economic activity in the United States has been growing moderately so far this year, and the labor market has continued to strengthen."
The manufacturing sector hit an 13-year high earlier this month.
Compared with September 2016, GM sales are up 12 percent; sales for Ford are up 9 percent.
Are you feeling this economic feast? Or are you experiencing an economic famine? Countable wants to move past the percentages and hear from you Comment below, letting us know if you’re experiencing a 13-year economic high.
(Photo Credit: jansucko / iStockphoto)
Written by Countable
Kind of hard to be confident in an economy run by officials who don't understand economics.
No, not under this President and Administration.
No. It is a balloon waiting to explode.
Not at all confident. Our representatives in Congress are too busy lining their own pockets to worry about the people that put them there.
I was frankly shocked to read this. I even checked to make sure it was a legitimate study. NO, I am NOT feeling confident about our future. This must be a bubble. My wages have been stagnant for years and I’m still living check to check. Nothing trickling down into my bank account.
No Glass-Steagall no confidence
This economy is doomed. The stock market is running on speculation and deregulation promises. This is a bubble that will lead to a crash. The only losers will be the tax payers .
I'm not an Economist but, I do own a small business and I'm basically booked out through next year for the first time in a long time. And I know that just about every other trade is in the same shoes. If this keeps up I might actually be able to hire more people and grow my business. I do well when the people have more money to take care of their needs. I guess that's a win win
I have greater confidence under Trump, but it is still far away from where it should be. The Government has been running around with a blank check for far too long. More cuts on spending need to be implemented.
I’m not confident. How can you be with a madman in office.
I’m not confident. There are too many wild cards at play, both programmatically and in what would normally be called leadership. No one knows what they are doing. Checks and balances put in place to protect citizens are being systematically removed, ultimately benefitting only corporations and the 1%. The chances for failure are high.
The economy is being stimulated by the policies President Obama put in place. President Trump’s economic policies haven’t even been executed, once they do, watch out average American. Your buying power will weaken.
Not confident. Not with this crazy person in the Oval Office and this horror of A House and Senate
The stock market may be at all time highs, but data suggest we are at the end of a bull market and correction in the bond market, tech, student loans, auto loans and possible housing market is around the corner this fall. Before the holidays it’s going to look scary around here. Fed wants to raise rates but they still keep the market propped up with QE, which is not real growth in the stock market.
Um, are you kidding me with this question? This is the age of #NotMyPresident. Let’s lower that bar. Get it right on down there, just above worm-level. How about “are you confident about the survival of the human race?”
I feel very happy with the economy right now. Jobs are booming, stocks are rising, and it’s just all around good! Running the gov’t is like really running a business, so thank you Mr. Trump!
No confidence with Trump and a Republican administration and Congress. History shows the Republican handling of the economy is usually disastrous
No, considering the incompetence in leadership, and the enabling of policies that will allow abusive power for corporate and private interests
Not at all!
I think we’re headed for a recession soon. Hopefully it won’t be a full fledged depression.