The US economy is soon trending on a path of robust growth rate,followed by increasing consumer confidence.This was seen in the increased spending in the Holiday season during the Christmas and the New Year.
The job market scenario has been good and on an optimistic level.
This year there were also a lot of confident Americans who made a lot of travel plans for the holiday season.
Among the people who were surveyed during the holiday season were either travelling in the States itself or either outside the States.
All the holiday sentiment was great news for the hospitality and the travel industry and it gave a huge boost to their sales.
What has been the job market scenario?
There were around 148,000 jobs created by the Bureau of Labour Statistics,however unemployment remained at 4.1 percent.There were subsequent rebounds in the manufacturing and the construction jobs.
Prime age Americans have been infused in the job sector and soon the trend is going up pretty sharply.
Also there were a lot of economic indicators showing strength.
What are the other factors showing a rise in the consumer confidence?
There are a lot of economic indicators which are showing strength.
Consumer confidence is at an all time high that also 17 year high.
There was also a stock market boom which erupted.
There was also a leap of 250,000 jobs in the month of December with a lot of broad gains and a strong growth by small and medium size business.At the end of 2017 there was consumer gain and a lot of confidence shown as the consumers were willing to spend more.
What is the labor market all about?
The labor market is booming in terms of various job gains and the consumer confidence remains.
Paychecks are going to increase.
Also shopping increased as the retail sales also grew with unexpected gains.
Consumer spending however directly translates to the actual spending phenomena.