U.S. Consumer Sentiment Jumps After Tax Cuts Blunt Stock Gyrations
Photographer: Craig Warga/Bloomberg
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U.S. consumer sentiment unexpectedly rose in February to the second-highest level since 2004 as tax cuts and a strong job market helped Americans shrug off stock-market volatility, a University of Michigan survey showed Friday.
The rise in sentiment, which surpassed the forecasts of all analysts surveyed by Bloomberg, comes as Americans’ paychecks are getting bigger due to the implementation of tax cuts under legislation signed by President Donald Trump in December.