⚡Crypto Alert : Altcoins are up 28% in just last month! Unlock gains and start trading now - Click Here

US Consumer Confidence Climbs Higher Over Greater Optimism to Make Major Purchases

US consumer confidence is soaring, rising higher over the past month to the highest level since August 2019. The Microsoft News-CivicScience Economic Sentiment Index (ESI) has increased by 1.0 point in the past couple of weeks to touch 51.3 on November 12.

Consumer confidence towards making major purchases soared by 4.3 points to 55.4 over the past two weeks, driving the rise in the overall reading. Consumers surveyed also feel more optimistic about the US economy and the job market. However, consumers felt less hopeful about their personal finances, with this sub-index registering a 1.2 point decrease after climbing 2.4 points higher previously.

The positive sentiment among US consumers coincides with the ongoing rally on Wall Street where DOW and SPX have hit record highs. Upbeat Q3 earnings have caused economists also to turn more hopeful for the US economy to post a rebound in the coming year.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
ABOUT THE AUTHOR See More
Avatar
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
Related Articles
🔒 OPEN A TRADING ACCOUNT