Sentiment improves for US upper-income households-survey

NEW YORK, June 4 (BestGrowthStock) – Sentiment of U.S. households
in the top fifth of the income distribution improved in the
second quarter of the year from the first, but households were
less positive in their evaluations of government economic
policies, a survey showed on Friday.

The index of sentiment rose to 85.4 for the second quarter
compared with 81.5 in the first quarter and 71.5 in 2009,
according to the Thomson Reuters/University of Michigan’s
Surveys of Consumers report. The survey assessed upper-income
households.

When asked for their evaluations of government economic
policies, negative opinions persisted, with just 18 percent of
respondents saying confidence in government policies increased
compared with 20 percent in the first quarter and 24 percent in
2009.

“The persistence of negative assessments of economic
policies stands in sharp contrast to the 1980s (and all other
recoveries),” Richard Curtin, director of the surveys, said in
a statement.

“The recent passage of the health care legislation added to
these negative evaluations, mainly due to the expected
increases in taxes on upper income households as well as rising
concerns about higher taxes due to the mounting deficits.”

An improved financial situation was reported by 36 percent
of all households in the top fifth of the income distribution,
compared with 32 percent in the first quarter and 27 percent in
2009.

The Thomson Reuters/University of Michigan’s Surveys of
Consumers’ consumer sentiment index rose slightly in May from
April but stayed roughly unchanged from levels reported since
February.

Money

(Reporting by Caroline Valetkevitch, Editing by Chizu
Nomiyama)

Sentiment improves for US upper-income households-survey