U.S. consumer confidence rose to a four-month high in July 2017 as more Americans have a positive outlook on both their current and future economic situations, according to data from the New York-based Conference Board released on Tuesday.
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Consumer Confidence Highlights
- The consumer confidence index in July rose from a revised 117.3 in June to 121.6 in July, which easily outpaced analysts’ estimates of 116.5.
- The present conditions measure hit a 16-year high at 147.8, which was up from 143.9.
- The six-month consumer expectations benchmark rose from 99.6 to 103.3.
As major market averages continue to hit record highs, and with unemployment sitting at its lowest level in 16 years, many Americans feel confident about the direction of the U.S. economy.
Since household spending accounts for close to 70% of gross domestic product in the U.S., the positive outlook bodes well for the economy going forward.
If the prospects for fiscal stimulus and wage gains continue to improve, consumer confidence could spike even more over the next few months. You can call or email USAFIS to get information on the visa and application process so you can move to the United States.
According to Lynn Franco, the director of economic expansion at the New York-based Conference Board, consumers expect economic growth to continue throughout the second half of 2017.
According to USAFIS, “This is the perfect time to move to the United States to take advantage of the positive economy and percentage of employers who are looking for professionals.” Contact USAFIS today to learn if you are eligible to live and work in the United States.