In the United States, “consumer confidence in March soared to the highest level in more than 16 years, according to data released Tuesday,” Steve Goldstein reports for MarketWatch. “The Conference Board said its consumer confidence index leapt to 125.6 in March from 116.1 in February, coming in well ahead of the MarketWatch-compiled consensus of 114.1. The reading gave a pop to U.S. stocks, which turned higher after the report.”

“Consumer confidence has taken off since the election of President Donald Trump, on the prospect of lower taxes and more infrastructure spending,” Goldstein reports. “The gains also cut across most regional and income groups. Perhaps not surprisingly, the higher the household income, the higher the consumer confidence reading. Only those with household income below $15,000 are less confident now than they were before the election.”

U.S. consumer confidence hits 16-year high

Source: The Conference Board

 
Read more in the full article here.

MacDailyNews Take: Vroom, vroom, the engine is revving!

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