Consumer Confidence Is At All Time Highs

Consumers are more confident than ever right now in the market following the recent Trump election. According to the recent final report on consumer confidence from the University of Michigan, it was found that consumer sentiment is at about 98.2 percent.

This means that American consumers are more confident in the economy than they have been in the past 12-13 years. The stock market has continued to surge, despite the move from the FED to raise interest rates, and many suspect that the strong growth will continue.

According to Barclays economists, they expect consumer confidence to fuel consumer spending and therefore we should expect to see overall GDP growth into the near future. In the last two months alone it's reported that overall consumer sentiment has risen at least 11 points. But not everyone is that optimistic, especially since the FED has hinted that it might raise rates at least 3-4 times next year.

A number of people see Trump's policies as being positive for the economy, at least 18 percent of consumers reported that they thought his policies would have a favorable impact on the market. The consumer report comes from a monthly report, surveying roughly 500 people, that is conducted to gather data surrounding the attitude of consumers toward present financial conditions in the market.

Pics:
University of Michigan via FRED
Pixabay
sources:
http://www.wsj.com/articles/u-s-consumer-sentiment-rises-to-highest-level-in-12-years-1482506871
http://www.sca.isr.umich.edu/
http://www.marketwatch.com/story/consumers-sentiment-hits-highest-level-in-12-years-in-december-2016-12-23
http://www.cnbc.com/2016/12/23/consumer-sentiment-reports-for-december-2016.html