Economic Outlook Over The Next Decade Improves In More Americans' Eyes

Friday, November 23, 2012 06:59
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Economic Outlook Over The Next Decade Improves In More Americans' Eyes

Tags: Economic Outlook | economy | U.S. economy

The number of Americans becoming bullish on the economic outlook over the next decade increased after the election on November 6.

 

The monthly Bloomberg consumer expectations gauge for November rose to a positive 4 from a negative 7 based on a 37% increase in the number of households predicting that the economy will improve.

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The more positive sentiment can be directly tied to the recent election, the rally in equities markets, and the improvements in the labor and housing markets.
 
The weekly unemployment claims report came in a day early this week because of the Thanksgiving holiday.
 
It showed fewer people filed applications last week as damage from Superstorm Sandy began to subside.
 
Jobless claims decreased by 41,000 to 410,000 for the week ended November 17. The Bloomberg consumer expectations gauge for November showed the first positive reading since March and the highest since February 2011.
 
Each week, 250 are asked for their views on the economy, personal finances, and the buying climate.
 
The most recent reading is based on the average responses over the past four weeks.
 
The reading can range from 100 and this most recent reading indicates respondents had a positive response to all three components.
 

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