Consumer confidence is a big part of the economy’s ongoing performance. If people believe that things are going well, they are more likely to go well. It’s not a perfect correlation, of course, but it is better than the opposite.
With that in mind, I was encouraged to see the latest numbers from Gallup on how Americans are feeling right now. They polled people on how they feel now – and how they feel looking forward to the coming year.
The good news is that Americans are very positive. As positive as they have been feeling in an amazing four decades, in fact. As an early retiree & investor, that is great to see.
The first chart shows how people feel about their current financial situation versus last year. The current 59% survey result is as high as it has been since 1976 …
The second chart – which is even more remarkable – shows how people are feeling about where they will be a year from now. This sentiment has been steadily climbing since 1978 …
In my mind, these are really extraordinary charts. Politicians and the media love to focus on the negative, but clearly most people aren’t thinking that way themselves. I’ll refrain from offering my thoughts on what is driving this optimism but am interested in your thoughts.
Why are Americans so positive about their current & future financial situation?
Image Credit: Pixabay