Consumer Confidence Jumps to Eight-Month High

Finally, some potentially good news on the economy which could affect your business’ cash flow.  A lower unemployment rate has Americans more confident in the past eight months.  Attitudes surrounding the economy and job market turned positive this month for the first time in seven years suggesting consumer spending will continue helping economic growth.

Highlights

  • Americans making over $75,000 a year showed increased confidence to the highest levels since December 2007.
  • Americans believing it’s a good time to buy large-ticket items like automobiles increased 9%, the highest since January 2008.
  • Americans grew more optimistic about job prospects.  Expectations for unemployment to fall over the next 12 months was the first positive reading in seven years and the highest level since 1984.
  • The unemployment rate unexpectedly fell to 9%, the lowest since April 2009.
  • Joblessness had the biggest two-month decrease since 1958.
  • Consumer spending grew at a 4.4% annual pace in the fourth quarter, the fastest since the first three months of 2006.

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