GREAT AGAIN: US Consumer Confidence Hits 18 YEAR HIGH

Originally published at:

The US economy continued to smash expectations and break records under President Trump and the Republican-controlled Congress in August, with new data showing consumer confidence at levels not seen in approximately 18 years.

According to CNBC, the Consumer Board Index rose to 138.4 this summer from 134.7; surpassing expectations as industry insiders predicted a “dip” to 132.

“Consumers’ assessment of current conditions remains extremely favorable, bolstered by a strong economy and robust job growth,” said the director of economic indicators at the Conference Board. “These historically high confidence levels should continue to support healthy consumer spending, and should be welcome news for retailers as they begin gearing up for the holiday season.”

“Labor-market expectations also improved in September as 22.5 percent of consumers expected more jobs in the months ahead, up from 21.5 percent in August,” writes CNBC.

Read the full report here.