US Consumer Confidence Soars to Highest Level in Many Years

In October 2017, consumers living in America were considerably more optimistic than a Reuters poll expected. A reporter for CNBC, Michael Sheetz said, “Consumer confidence rose to 125.9 in October, according to the Conference Board.” This is very close to hitting the index of 128.6 in December of 2000.

Lynn Franco, the director of economic indicators at The Conference Board, said the boost was created by the favorable job market ratings. Strong economic growth, an increased expectation of tax reform, and a surge in corporate earnings have lifted stocks, which are at all-time highs. With such high levels of confidence, it is expected the economy will see continued expansion at a robust pace. GCLExperts are here to aid you through the entire Green Card DV Lottery process so you can realize your American Dream.

The Consumer Confidence Index evaluates the American population’s current economic conditions and what they expect over the next six months. Because of consumer spending making up close to 70 percent of the U.S. economic activity, economists look closely at these numbers. President Donald Trump has seen his goal of three percent growth come to pass in two of the quarters since he became president.

American economists forecast the upward trend will continue for some time. The GDP of the third quarter saw a three percent increase, which was higher than the estimated two and a half percent economists expected. With the 3.1 percent increase in the second quarter, these back-to-back quarters have been the best since 2014. The American economy is on the rise, so now is the time to contact GCLExperts for your entrance into the Green Card Lottery.

 

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