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Economics Gazette

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November 19, 2019

US consumer confidence remained at some of its highest levels

US consumer confidenceThe US consumer confidence remained at some of its highest levels since the US elections. The good attitudes of Americans reflect the improved wage prospects and suggest that consumption will continue to grow, says the University of Michigan, which is conducting the survey.

The consumer confidence index rose from 97 points in April 2017 to 97.1 in May 2017. This is the second reading of the data and is revised downwards from the initial 97.7 points, against the estimates for value of 97.5 points.

The measure of economic expectations improved from 87 to 87.7 points in April, but there is also a downward revision of 88.1 points in the first reading.

The indicator for the current situation is down from 112.7 points in April to 111.7 points in May. The first reading showed a value of 112.7 points.

The authors of the report also point out that 79 of the respondents, who support Republicans, expect the economy to continue to expand. This is 66% from Democrats. In addition, 75% of Republicans expect economic conditions to improve this year, while only 16% of Democrats share these predictions.

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