We Are So Happy, U.S. Consumer Confidence Highest since November 2000

The American consumer appears to be not thrown off by trade wars and divisive politics. The record high stock markets have helped fuel consumer confidence to the highest level in 18 years as measured by the US Conference Board in August.

The American consumer appears to be not thrown off by trade wars and divisive politics. The record high stock markets have helped fuel consumer confidence to the highest level in 18 years as measured by the US Conference Board in August.

Happy Shopper

“Consumer confidence increased to its highest level since October 2000 (Index, 135.8), following a modest improvement in July,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “Consumers’ assessment of current business and labor market conditions improved further. Expectations, which had declined in June and July, bounced back in August and continue to suggest solid economic growth for the remainder of 2018. Overall, these historically high confidence levels should continue to support healthy consumer spending in the near-term.”

Highlights

  • US August Conference Board consumer confidence 133.4 vs 126.6 expected, Prior 127.4
  • Note base is 100 in 1985
  • Highest since November 2000
  • Present situation 127.2 vs 165.9 prior
  • Expectations 107.6 vs 101.7 prior
  • 1-year inflation expectations 4.8% vs 5.1% prior
  • Jobs hard-to-get index 12.7 vs 14.8 prior 

“I’m so happy because today I’ve found my friends They’re in my head I’m so ugly, but that’s okay, cause so are you We’ve broken our mirrors Sunday morning is everyday for all I care And I’m not scared Light my candles in a daze …… I like it, I’m not gonna crack I miss you, I’m not gonna crack I love you, I’m not gonna crack I killed you, I’m not gonna crack  via Kurt Cobain

From The Traders Community News Desk

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