A Brighter Picture From Consumers
New Thomson Reuters/University Of Michigan Survey Shows Record Gains In Consumer Confidence
Consumers were more optimistic in the most recent survey about prospects for their own personal finances, anticipated continued improvement in the national economy, and expected the unemployment rate to decline significantly during the year ahead. Overall, consumers were more confident about economic prospects in October than any other time during the past five years.
Nonetheless, these substantial gains still left many consumers in a difficult financial situation, as equal numbers reported continued financial declines as reported that their financial situation had improved, and as many consumers anticipated improved economic conditions as expected continued problems in the national economy.
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