Consumer Confidence reaches sixteen year high

Consumer confidence is at a level we haven’t seen since December of 2000.

When the new numbers came out on Tuesday, they were shocking, because they were nine points higher than the analysts had expected.

Lone Star College economist Hank Lewis explains what this means.

“People that live in households are feeling better about the state of the economy than we have in quite a while,” Lewis stated.

So what does 'consumer confidence' mean anyway? You hear the term all the time, but do you really understand it?

“If you’re working how hopeful are you that you will continue to have your job or maybe advance in your job,” Lewis explained. “If you’re unemployed how confident are you that you are going to find a job in your field that is going to pay reasonably well?”

These new numbers come during the first 100 days of Donald Trump's presidency. How much credit does he deserve for this?

“Some of it can be attributed to Trump as well because many people see him as changing the way we do business. They see him as more business friendly, and that may be making people more optimistic on that level,” Lewis said.

But, Lewis says this is also partly due to things that have occurred over the last year or two of the Obama Presidency.

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