With consumer sentiment at very high levels and gasoline prices dropping, it’s no wonder a throng of Americans will be traveling over the Thanksgiving weekend.
AAA estimates 48.5 million Americans will hit the roads over the weekend, nearly a 5 percent increase compared to last year, and it says overall travel — including trains and planes
— will be at the highest level since 2005, with some 54.3 million Americans traveling at least 50 miles.
And except for the ever-present concerns about weather, a strong travel forecast remains in effect at least through the remainder of the year.
Consumer sentiment remains largely unchanged from the very favorable levels that have been seen throughout 2018, according to the latest survey released Wednesday by the University of Michigan. There was, however, a cautionary flag waved regarding Fed action on interest rates.
“While there is no reason to anticipate a sudden change in interest rate expectations in the next few months, it is still an important task for the Fed to avoid hitting the threshold that causes widespread postponement of purchases,” economist Richard Cur-tin, director of surveys, said in a release.