Consumer Sentiment Soars Improved Optimism and Best Income Gains Since 1960
American households are beginning the new year full of hope for the future, satisfaction with personal finances, improved outlooks for the economy, and rising incomes and wealth.
The University of Michigan’s consumer sentiment index rose to 100.9 in early February, higher than expectations for 99.7 and above the 99.8 level hit in January. That nearly matches March 2018’s 101.4, which was the highest score since 2004, making February the second-best reading in 15 years.
Improved consumer sentiment complicates Democratic plans to run against Trump’s economy by arguing that the gains are leaving too many Americans behind. In fact, gains in household wealth were reported more frequently in early February than any prior time since 1960, the University of Michigan’s survey of consumers showed.