Consumer Sentiment Rising

A survey released today (June 28) indicated consumer sentiment among higher-income families nearly rose to its highest level in six years, hitting 84.1 in late June, 2013, just below the 84.5 six year high in May. Economists surveyed by Reuters had forecast 82.8 for June, as MHProNews has been informed by rvbusiness. Since consumer spending accounts for 70 percent of the national economy, some analysts base their judgments on the optimism (or not) of consumers about the economy. Survey director Richard Curtin says, “Consumers believe the (economic) recovery has achieved an upward momentum that will not be easily reversed.” Consumer spending in the first quarter grew at an annualized rate of 2.6 percent, faster than the 1.8 percent in Q4 2012, but below the government prediction of 3.4 percent growth.

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