Consumer Sentiment Index in the United States Jump to 83.7 in May

0
2049

 

An increase of 7.3 percent is seen the preliminary consumer sentiment index from that April 2013. Now, the consumer sentiment index in the United States stands as 83.7. The index formulated by the Thomson Reuters/University of Michigan preliminary exhibits how Americans are overcoming the effects of high tax rates and federal spending cuts.  The gain reflects that the Americans overcoming pretty well. The surge in the index prompted the stock price to go higher. It is also an indicator of a boost for economic expansion during the latter period of this year.

According to the industry expert, with fading away of the fiscal drag in the latter half of this year, the overall growth is expected to accelerate.  As a matter of fact, this gain in the consumer sentiment index is perceived to a testimony to the core growth in spending power. The positive results also pushed the S&P 500 index to jump by 1 percent to a record 1,666,12. The Dollar index also jumped by 0.9 percent to 84.371.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here