Breitbart By JOHN CARNEY
Happier Consumers Deck the Halls
The American consumer is rushing into the end of 2023 in high spirits—in part because they like how next year’s election is shaping up.
The University of Michigan’s index of consumer sentiment soared 13 percent in December. This was a sharp and sudden reversal after four months of declining sentiment.
Not only did the downturn end. The December surge reversed almost all of the decline in the second half of this year, bringing the index up to where it was in August.
This is not the way things were supposed to happen. After the economy grew at a breakneck pace in the third-quarter, American consumers were widely predicted to “run out of steam” in the fourth quarter. Our “excess savings” were supposed to finally be tapped out. Unemployment was climbing. Student loans were due again. Many of the long-reliable indicators were screaming outright recession or at least signaling a serious slowdown.
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