The data published on Tuesday USA showed better figures than expected. A consumer confidence index rose to the highest level in a year. Analysts Wells Fargo point out that as more people get vaccinated and life gradually returns to something reminiscent of normalcy, confidence quickly returns to where it was before the pandemic.
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“US consumer confidence soared more than 12 points to 121.7, easily beating consensus expectations. This benchmark level for consumer spending stood at 132.6 in February 2020, just before COVID was designated as a pandemic the following month. “
“The economic indicators for March widely exceeded expectations; it is true that with a few exceptions in the manufacturing sector, where comparatively modest gains were a function of supply chain setbacks. The key question is to what extent the strong consumer recovery will continue, given that stimulus controls no longer protect household disposable income. In that sense, this better-than-expected gain is encouraging. “
Interestingly, the current situation measure catapulted 29.5 points to 139.6 from 110.1 previously. We see that it largely reflects the same atmosphere that can be found in any recently reopened restaurant these days. “
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