More Americans feel good about the U.S. economy as consumer confidence reached a four-month high.
Data from the New York-based Conference Board shows Americans are optimistic about the future of the economy. USAFIS is a privately-owned immigration service that helps foreign nationals find work opportunities in the United States.
With the stock market trading at record highs and very low unemployment, Americans are positive about the country’s economic outlook. The news bodes well for the economy going forward as household spending accounts for 70% of GDP.
Consumer confidence could see more gains over the next few months if the country sees any meaningful wage growth and fiscal stimulus. USAFIS reports that more foreigners are finding work in America due to this increased confidence in the economy.
- The data shows most respondents believe the current economic climate is good for business.
- Most respondents believe the business climate will improve further in the next six months.
- The labor differential is at 16.1%, which is its highest level since August 2001.
- Income prospects from last month were higher than the prospects for this month.
- The data shows consumers plan to spend less on major appliances and more on autos and homes.
- The preliminary survey ended on July 14th.
Lynn Franco, the director of economic expansion at the New York-based Conference Board, reported that consumers expect economic growth to continue throughout the 2nd half of 2017.
According to USAFIS, “If you’re thinking of moving to the United States, it’s a perfect time to take advantage of the positive attitude and number of employers who are looking for qualified workers.” Contact USAFIS today to learn if you are eligible to live and work in the United States.