Highest percentage of households since 1966 report income gains. Consumer confidence booms

The final reading on consumer sentiment for March showed significant acceleration, rising to 98.4 to beat the high end of the forecast range. The gain in March was fueled by increased optimism among working Americans.
“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,” Richard Curtain, chief economist for the Survey of Consumers said.
“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.”

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“Middle and lower income households more frequently reported income gains than last month, although income gains were still widespread among upper income households,” Mr. Curtain added. “Indeed, the last time a larger proportion of households reported income gains was in 1966.”
Current Economic Conditions soared to 113.3, up from an already strong 108.5 in February. The Index of Consumer Expectations rose strongly to 88.8, up from 84.4 in February.
Reported current and expected rising incomes were accompanied by lower expected year-ahead inflation rates, resulting in more favorable real income expectations. Overall, all income groups voiced more favorable growth prospects for the economy.

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Bullseye said:

Working!! Yes, the people libs often ignore are seeing significant economic benefits, and are becoming more and more confident in the economy.

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Moderate Right said:

I don't have the slightest doubt that all liberal policies come from the heart. But, they are constantly fumbling the football when it comes to helping people because everything they do backfires and it is Republican policies which actually help. Wages are up more than they have been in a long time and it has happened without a penny raise to the minimum wage. The left has been talking about job guarantees but every American who wants to work is already working. Unemployment claims are at the lowest level in a long time.

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