US consumers are optimistic

Optimistic sentiment was reported from the USA and underscored the robust demand domestically and offered new hope that consumer spending would stay solid enough to support growth in the economy, which slowed by a significant amount recently.

Wall Street is expecting a slight rebound in confidence to 88.5points, up from the final September reading of 87.2 points. Michigan Survey of Consumers director Richard Curtin was quoted by Bloomberg as having said that a sustained increase in jobs “remains the key, especially since consumers have become more concerned that the pace of future job growth will slow”. The sub-index gauging consumer expectations for six months from now, which more closely projects the direction of consumer spending, rose to 82.7points from 78.2 points of September. (vg.hu)