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Despite the fact that the pandemic has not ended, in addition to the fact that inflation has positioned itself throughout the country, affecting many sectors, US citizens are contributing so that the national economy recovers from the crisis that was experienced last year when the coronavirus collapsed the entire country.
The Conference Board released a survey indicating that consumer confidence was on the rise during the month of July. According to the above, this trend is approaching pre-pandemic levels, in part, due to the lifting of sanitary restrictions throughout the nation .
The study found that even though the consumer confidence index had a minimal increase equivalent to 129. 1 this, with respect to the past of 128. 9, the figure exceeds the forecasts of economists and experts on the subject based on a study prepared by Bloomberg, which said there would be a fall.
According to The Hill, this study measured the purchasing power of consumers based on labor and commercial market conditions throughout the country, this does not include beneficiaries of government programs such as the Tax Credit for Children . The small increase that occurred has to do with the fact that employment has recovered throughout the country .
Through a statement, the Conference Board stated that this third quarter of the year has started passively in relation to consumer confidence, for this reason According to the firm, there are reasons to think that this issue will have a good closing of the year.
In this sense, the statement cited the position of Lynn Franco, senior director of economic indicators at the Conference Board, who explained that according to his study, Americans said that plan to acquire houses, cars and appliances in the coming months.
The consultancy’s report also gave its short-term economic outlook , where almost % of consumers are projected to anticipate more jobs being months, compared to approximately 27% of June.
In addition, around 21% of consumers said they expected their income to increase in the short term, an increase of 20% over last month. The Conference Board noted that almost 7% of consumers said they thought their income would decrease in the coming months.
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