According to the Conference Board, consumer confidence in the US remains elevated, beating economists’ expectations.
The “present situation” component of the Conference Board’s report has been exceptionally strong. Will we see this trend translate into higher consumer spending?
The primary reason Americans are satisfied with their present conditions is jobs. The labor market continues to strengthen.
This index shows the proportion of survey participants who think jobs are “hard to get.”
And this indicator shows jobs being “plentiful.”
As a comparison, the Gallup Economic Confidence Index is also elevated but shows a bit less enthusiasm.