Consumer Sentiment Hits Five Year High:
U.S. consumer sentiment rose to
its highest level in more than five years in November as consumers felt more
optimistic about employment prospects and the outlook for the overall economy,
a survey released on Friday showed.
The Thomson Reuters/University of Michigan preliminary reading on the overall index on consumer sentiment came in at 84.9, up from 82.6 the month before.
The Thomson Reuters/University of Michigan preliminary reading on the overall index on consumer sentiment came in at 84.9, up from 82.6 the month before.
"More consumers expected
good rather than bad times financially in the economy in early November, not
only for the year ahead but over the next five years as well," survey
director Richard Curtin said in a statement.
"This was the most
positive outlook for the overall economy in more than five years," he
said.
What is the number
one factor for housing demand? Is it a low interest rate? Is it
location, location, location? Is it low home prices? No, the number
one factor that drives housing is how a consumer feels about their current and
future financial situation. So, it is great news for the housing market
that Consumer Sentiment has hit a five year high.
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