The U.S. Citizens Becoming More Confident About Country’s Economy

29 Feb


Richard Walker Gebo

A private research group has released a report on Tuesday that reflects boosting confidence in Americans about the U.S. economy.

Report revealed consumers’ confidence surged in February to its highest level in a year. It happened because of increasing job prospects and decreasing unemployment at a three-year low.

The increasing confidence in consumers has given a confidence to Wall Street to reclaim its lost ground. The Dow Jones industrial average ended over 13,000 on Tuesday for the first time since May 19, 2008, which clearly indicates how confident U.S investors are. This gain would encourage hesitating investors to back into the market to help market to recover and gain.

Amna Asaf, economist at Capital Economics, stated the economy is getting momentum and clearly shoppers are more optimistic about their job prospects.

Report is a matter of happiness for present President Obama who seeks re-election, says Richard Walker Gebo.

Besides consumer confidence is still low than the level of a healthy economy and rising gas prices, probability of war with Iran on nuclear showdown, and European debt crisis are the issues which may shudder to the confidence of Americans again from the hopes which are generating in them. Nonetheless, Tuesday’s performance indicates a stable economy.

Eventually, it should be expected that negative factors should not succeed in again creating fear in the minds of American investors, who have somehow become confident to put their money in the market, so that economy bringing back on the track should continue perform should again help the U.S. to become the strongest economy in the world.


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