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Bloomberg Intelligence
US Consumer Sentiment Rises to Six Month High
Oct 25, 2024
Joanne Hsu, Surveys of Consumers Director at the University of Michigan, discusses the recent rise in consumer sentiment and its economic implications. Nathan Dean, Senior Policy Analyst, analyzes how the U.S. election may impact key industries. Victoria Fernandez, Chief Market Strategist, provides insights on market trends. Deborah Aitken, Luxury Goods Analyst, outlines the consequences of a court ruling on Tapestry's acquisition. Justina Lee shares tax-aware strategies for wealthy investors looking to minimize taxes.
29:11
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Quick takeaways
- Consumer sentiment has improved significantly from two years ago, yet many remain cautious due to potential election outcomes affecting the economy.
- Recent Fed rate cuts have boosted optimism for major purchases, although home buying conditions still reflect a cautious financial landscape.
Deep dives
Consumer Confidence Trends
Consumers have shown a gradual increase in confidence regarding the economy, with current sentiments significantly better than they were two years ago. While major swings in opinion have stabilized, many individuals are holding off final judgments until after the upcoming elections, as they view the economy's trajectory as heavily dependent on election outcomes. Business conditions and expectations are nearing historical averages, suggesting improved optimism, though many still express concerns about high costs impacting their personal finances. Overall, consumers acknowledge improvements since the peak inflation period, even if they do not feel wholly thriving.
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