The doomsday forecast of the Left may be disparaging to many Americans, but it is also a total falsehood. America is not on the brink of disaster with President Trump at the helm. New data this week reveals quite the opposite for a revitalized U.S. economy as consumer confidence rises again.
America is in the throes of a four-month high in consumer confidence. The outlook for well-paying jobs and the overall economy are all positive, according to data from the New York-based Conference Board.
Bloomberg, not exactly an arch-conservative organization, reports that “with unemployment near a 16-year low and U.S. stocks reaching record highs, consumers remain upbeat, which should continue to support the household spending that accounts for about 70 percent of U.S. gross domestic product.”
The report will never reach most mainstream media readers and listeners. They are too busy finding Russians under every bed in Washington. This is not the sort of information that feeds into their daily message of doom and gloom.
The truth is that the respondents scored “good” for business conditions, which rose to their highest level since 2001. Most people expect conditions to improve over the next six months and the labor differential to widen. That being those saying jobs are plentiful minus the share saying they’re hard to get. In the latest survey it widened to 16.1 percentage points, the most since August 2001.
The confidence index rose to 121.1 (est. 116.5) from a revised 117.3 in June. Present conditions measure rose to 147.8, a 16-year high, from 143.9. The gauge of consumer expectations for the next six months gained to 103.3 from 99.
It was welcome news for American business, employees, consumers and Wall Street. In fact, accelerated wage gains and positive fiscal projections “could propel confidence further in coming months,” according to Bloomberg.