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Americans optimistic about economy despite higher fuel prices

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Industry news
Posted / Last update: 17-03-2017

People in the United States still feel positive about their economy even though they need to sped more at the pump.


IStock

Despite rising gasoline prices, three in five (61%) gasoline consumers report feeling optimistic about the state of the economy, according to the latest National Association of Convenience Stores (NACS) Consumer Fuels survey.

Consumer optimism is at an all-time high across the four-plus years the national survey has been conducted, surpassing the 58% economic optimism recorded in December 2016 following the presidential election.

A majority of Americans are optimistic across all demographics examined. Older Americans age 50 and older are the most optimistic age group (65% optimistic), compared to 55% of those ages 18-34 who are optimistic. There also are regional differences, with Southerners reporting the highest levels of economic optimism (64%) and Midwesterners reporting the lowest (56%).

The strong optimism may also translate into increased sales for convenience retailers: One in five consumers (22%) say they will drive more this coming month and 19% say they will shop more. More than three in four consumers (76%) say that gas prices have an impact on their optimism.

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