The majority of Americans say they are optimistic about the economy, and guess what’s driving the optimism? Low gas prices, says a story from PR Newswire.
Overall, 52 percent of Americans are optimistic about the economy. The most optimistic are younger consumers ages 18 to 34 (58 percent), and those in the West (58 percent), according to survey results released by the National Association of Convenience Stores (NACS).
The optimism surge points to what appears to be an ongoing trend. A majority of Americans have said they are optimistic about the economy in three of the previous four months when national gas prices averaged between $2.05 and $2.40 per gallon. These are the only months that a majority of Americans have expressed optimism about the economy since NACS initiated the survey in January 2013. Gas prices averaged $3.51 per gallon in 2013 and $3.36 per gallon in 2014.
Consumers are also optimistic about where gas prices may be heading. More than half (52 percent) of consumers feel that gas prices in 30 days will be about the same or lower than today, up from one in four (26 percent) who predicted the same last month.
COVER PHOTO: ISTOCK