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U.S. Consumer Confidence Highest Since 2007
Americans are increasingly optimistic about the domestic economy as they become more confident that the job market will improve over the next 12 months, the University of Michigan reports.
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Americans are increasingly optimistic about the domestic economy as they become more confident that the job market will improve over the next 12 months, the University of Michigan reports.
The university's consumer sentiment index inched up to a five-year high of 82.7 this month from 82.6 in October. The index stood at 63.7 one year ago.
The gauge of current conditions jumped. But a measure of expectations declined.
Among survey respondents, 30% expect the unemployment rate to improve in the year ahead, the highest proportion since 1984. More Americans reported gains in their personal finances than in any month since March 2008.
U.S. consumers are worried about whether Congress and the White House will reach a budget deficit agreement by year-end, according to university researchers. They say a failure to do so could hurt confidence.
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