News

A ‘growth bomb’ is brewing in the US with consumers sitting on $2.5 trillion in savings — and it’s poised to give the economy a huge boost, one Wall Street chief strategist says

The US economy could be set for a surge in growth as consumers start to spend the money they saved during the COVID-19 pandemic, according to The Leuthold Group. When the personal-savings rate has been this high in the past, economic growth has surged, according to historical data from Leuthold. […]
A ‘growth bomb’ is brewing in the US with consumers sitting on $2.5 trillion in savings — and it’s poised to give the economy a huge boost, one Wall Street chief strategist says
Markets

US consumer confidence jumps most since 2011 as the economy reopens

Consumer confidence in June jumped to 98.1 from 85.9 in May, according to a Tuesday report from The Conference Board. Economists surveyed by Bloomberg expected the index to gain to 90.5. The jump was the biggest since 2011. “The re-opening of the economy and relative improvement in unemployment claims helped […]
US consumer confidence jumps most since 2011 as the economy reopens
Markets

US consumer sentiment jumps the most since 2016 on renewed hiring efforts

The University of Michigan’s consumer-sentiment index rose to 78.9 in June from 72.3, in May according to preliminary data released Friday. “The turnaround is largely due to renewed gains in employment, with more consumers expecting declines in the jobless rate than at any other time in the long history of […]
US consumer sentiment jumps the most since 2016 on renewed hiring efforts