U.S. consumers are optimism

he University of Michigan Final Consumer Sentiment for January came in at 98.5, up from the December Final reading. Investing.com had forecast 98.1.

Surveys of Consumers chief economist, Richard Curtin, makes the following comments:

Consumers expressed a higher level of confidence January than any other time in the last dozen years. The post-election surge in confidence was driven by a more optimistic outlook for the economy and job growth during the year ahead as well as more favorable economic prospects over the next five years. Consumers also reported much more positive assessments of their current financial situation due to gains in both incomes and household wealth, and anticipated the most positive outlook for their personal finances in more than a decade. (MTI)