The survey’s measure of current economic conditions rose from 95.7 to 98.7. The subindex measuring consumer expectations also rose, from 70.0 to 74.7. Expectations for one-year inflation were unchanged from March at 3.2%, and five- to ten-year inflation expectations rose also remain unchanged at 2.9%.
The survey’s chief economist noted:
The most important issue is whether or not consumers will show greater resistance to the backslides that have repeatedly occurred in the past few years. Resilience among consumers is dependent on positive long term economic expectations.
Consumers have become more optimistic about job gains even though they expect only modest improvement in the country’s unemployment rate. Low mortgage interest rates are attracting more home buyers, although first-time buyers continue to face lender qualification hurdles.
ALSO READ: Weekly Jobless Claims Surge Higher
The Average American Is Losing Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.
Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.
But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
