HUGE: Consumer Confidence At Highest Level Since 2000
In yet another huge win for President Donald Trump, consumer confidence just hit its highest level since 2000. Consumer confidence has been surging since the start of the year, being jump-started by the historic tax cuts implemented at the same time.
Confidence has risen to 137.9 in October, which is higher than the predicted level of 136.
And experts don’t foresee the growth to slow down anytime soon, instead predicting it will continue to rise well into 2019.
“Consumers’ assessment of present-day conditions remains quite positive, primarily due to strong employment growth,” said Lynn Franco, senior director of economic indicators at the Conference Board. “The Expectations Index posted another gain in October, suggesting that consumers do not foresee the economy losing steam anytime soon. Rather, they expect the strong pace of growth to carry over into early 2019.”
The rising confidence can be credited to the historically low unemployment rates brought on by the Trump Administration. In short, more people are confident that the economy will continue to improve, giving business owners and consumers the confidence to expand their businesses, and spend more money.
President Trump seems to be living up to his campaign promises of improving the economy, giving credit to his campaign slogan, “Promises Made, Promises Kept.”