Economic Takeaways of U.S. Consumer Confidence, Advanced Trade
- Sentiment unexpectedly rose to second-highest level since 2007
- Goods trade deficit widens as global slowdown takes hold
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What you need to know about Tuesday’s economic data:
The Takeaway: The U.S. jobs machine has been humming and the gain in September confidence signaled it’s not skipping a beat even as the global economy shows further signs of malaise and Americans’ stock portfolios suffer. While the data showed more consumers than at any time since December 2012 expect equities to fall in the next year, resilient labor conditions are leading to more upbeat prospects for business and incomes. Adding to evidence of a percolating job market was a pickup in optimism among 35 to 54 year olds, who make up the lion’s share of the prime working-age population, was the highest since July 2001.