With the presidential election just around the corner, the American Institute of CPAs is detecting signs of renewed optimism in individuals’ financial outlook.
The AICPA’s third quarter Personal Financial Satisfaction Index measured 19.0, a 1.7 point increase from the second quarter and a 3.3 point increase from a year ago. The PFSi has reached its highest level since the first quarter of 2007, but is still 23 percent below its all-time high during the fourth quarter of 2006.
“With the country facing the uncertainty of a presidential election, the positive reading of the PFSi is a strong indicator that, despite political turmoil, the average American’s financial situation is pretty good these days,” said Kelley Long, a member of the AICPA’s Consumer Financial Education Advocates group, in a statement. “Americans’ personal financial satisfaction has continued to improve steadily and, regardless of the outcome of the election, is trending in the right direction with room to grow in 2017.”