Consumer Optimism Up in U.S.

Based on Bloomberg’s monthly consumer expectations survey, Americans that think the econony is improving are at the highest level since 2004 (34 percent of respondents thought that the economy was on an upward trajectory). Jobless claims for the week ending March 17 are also the fewest since February 2008. Consumer spending accounts for 70% of the U.S. economy.

The decline in jobless claims likely reflects strength in the labor market. Payrolls increased more than expected in February and large manufacturers have added jobs at production facilities. The price of oil, however, is rising, and this is expected to act to some degree as a damper on growth. At the same time, growth in China is slowing and some analysts predict recession in Europe.

Source: Bloomberg

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Kenny Fisher

Kenny Fisher

Market Analyst at OANDA
A highly experienced financial market analyst with a focus on fundamental analysis, Kenneth Fisher’s daily commentary covers a broad range of markets including forex, equities and commodities. His work has been published in several major online financial publications including Investing.com, Seeking Alpha and FXStreet. Based in Israel, Kenny has been a MarketPulse contributor since 2012.
Kenny Fisher

Latest posts by Kenny Fisher (see all)