American consumers are feeling more confident this month, though optimism hasn't fully recovered from a period of roiling markets and slowed hiring early this year.
American consumers are feeling more confident this month, though optimism hasn't fully recovered from a period of roiling markets and slowed hiring early this year.
Economists pay close attention to the index because consumer spending accounts for about 70 percent of U.S. economic activity. Hiring rebounded in March as employers added a solid 196,000 jobs, showing that many businesses still want to hire. The unemployment rate remained at 3.8%, near the lowest level in almost 50 years, the government reported in early April.
A government report on Friday showed that the U.S. economy grew much faster than expected in the January-March quarter, indicating that the nearly decade-long expansion — the second-longest on record — still has room to run.
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