The U. S. Consumer Sentiment Increased
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The U. S. Consumer Sentiment Increased

Posted by Mariuca on 8/31/2013 to Other
According to Reuters, the consumer confidence sentiment went up in July 2013, reaching the highest level in the last six years. The overall index, according to a survey made by Thomson Reuters, University of Michigan, rose from 84.1 in June to 85.1 in July, becoming the highest level since July 2007.

The director of the survey, Richard Curtin, declared: "This high level of confidence points toward a continued expansion of consumer spending in the year ahead.".

Because house prices have risen and Americans have steady job gains, it stimulates household wealth and income.

The index regarding the consumer sentiment is based on the answers given by people who took this survey, but, because the answers are subjective, it is hard to know which factors are driving it upward. The improving labor market can also be a reason of why the Americans are optimistic. In June, for example, were added 195.000 jobs, a number that surprised the analysts.

Another result of the survey shows that U.S. citizens still feel nervous about the future. The current conditions increased from 93.8 to 98.6, but the expectation of future economic conditions index fell a little, from 77.8 to 76.5. The lowest index regarding this subject was recorded in 2008, when it hit a low 55.3.

The analysts that made the survey also showed that Americans expect an inflation rate of 3.1% over the next year, up from 3% in June.

Although everybody is excited that the consumer sentiment it’s at the highest peak in the last six years, we have to remember that all the opinions are subjective. The economy of the United States of America has recovered, but that does not mean that it is the same as in 2007. In conclusion, we can say that U.S. economy is taking it slow, step by step.
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