The latest economic report shows a booming economy under President Donald Trump with the highest percentage of households reporting income gains in more than half a century.
“Middle and lower income households more frequently reported income gains than last month, although income gains were still widespread among upper income households,” Survey of the Consumers Chief Economist Richard Curtain announced, according to People’s Pundit Daily (PPD). “Indeed, the last time a larger proportion of households reported income gains was in 1966.”
Another March Madness …
It was also announced that March is turning out to be an incredible month for economic acceleration, with final consumer sentiment crushing forecasts.
“Consumer confidence rebounded in March to 98.4 from last month’s 93.8 – slightly above the average of 97.2 recorded in the past 26 months,” Curtain added. “The March gain in the Sentiment Index was entirely due to households with incomes in the bottom two-thirds of the income distribution, posting a gain of +7.1 Index-points, while households with incomes in the top third fell by 1.1 Index-points.”
America’s economic boom under President Donald Trump continues to soar to new heights, and despite what Democrats claim, a recession does not appear to be anywhere in America’s near future.
“The consensus forecast for the Survey of Consumers was looking for an already strong 97.8, ranging from a low of 97.5 to a high of 97.9,” PDP reported. “Worth noting, the data do not indicate an emerging recession – but rather slightly lower unit sales for vehicles and homes.”
February recorded major gains, but things looked even better last month.
“Current Economic Conditions soared to 113.3 – up from an already strong 108.5 in February,” PDP revealed. “The Index of Consumer Expectations rose strongly to 88.8 – up from 84.4 in February.”
Happy days are here again?
More statistics from the report indicate that the U.S. is experiencing its best economic times in years … and even decades.
“Recently improved finances were cited by 56 percent of all consumers in March – just below the all-time record of 57 percent recorded last March and in February 1998,” The University of Michigan News divulged from the report. “Reported income gains were cited by 47 percent of all consumers – matching the June 2018 reading; a higher proportion was last cited in 1966 (50 percent, the all-time peak).”
Times are not only great now, as they are forecasted to be stellar, as well, for the 2020 election year.
“When asked about how they anticipated their income to change in the year ahead, the anticipated gain of 2.6 percent was the highest since 2007,” The University of Michigan News’ Bernie DeGroat informed. “Declines in the year-ahead inflation rate also meant that real income expectations rose to their highest level since the January 2000 survey.”
Two factors are making for better financial times across the United States.
“Reported current and expected rising incomes were accompanied by lower expected year-ahead inflation rates, resulting in more favorable real income expectations,” the PDP report explained. “Overall, all income groups voiced more favorable growth prospects for the economy.”
And with Robert Mueller recently indicating Trump’s innocence regarding Russia collusion charges, economic good times are predicted – at least for the near future.
“These numbers could continue to rise in the wake of the Mueller report recommending no indictments for President Donald Trump and his campaign associates,” Townhall speculated from the most recent statistics.
Curtain agrees that confidence in Trump could spur more of an economic surge in America.
“Finally, it should be noted that too few interviews were conducted following the summary release of the Mueller report to have any impact on the March data; if there is any, it may affect the April data,” Curtain noted.
Well aware of the economic upturn, Trump made it clear that America’s economic boost will be a needed shot in the arm for his 2020 presidential election hopes.
“At last night’s campaign rally in Grand Rapids, the president hinted that the economy will be a top selling point for his reelection campaign,” Townhall’s Timothy Meads recounted.
Trump made it clear that the economy’s resurgence under his administration will pave the road to his second term in the White House.
“We’ve embarked on an unprecedented economic revival,” the president told a raucous crowd of supporters, according to Fox Business. “America is now the hottest economy anywhere on the planet Earth.”
Copyright OneNewsNow.com. Reprinted with permission.