American consumers are thrilled over low prices and borrowing costs. According to reports, the University of Michigan's index of consumer sentiment rose to 96.1 in June, from 90.7 in May and the June reading was the highest since 98.1 in January.

According to Millan Mulraine, deputy head of U. S. research and strategy at TD Securities LLC in New York, "Consumers are in a fairly buoyant mood, and we see that being translated into spending activity. We're not only headed in the right direction, but we seem to be moving in that direction at an accelerated pace".

According to Richard Curtin, chief economist for the Michigan survey, since 2004, consumer optimism improved at the fastest pace three years prior to the recession for the first six months of 2015.

According to Curtin, the readings are constant with an anticipated 3% increase in consumer spending this year and it would be the fastest pace since 2006. It has been reported by the Commerce Department that consumer spending increased at an annual rate of 2.1% from January through March.

Curtin said that the most important part was an improving economy. It has been reported by Americans at all income levels that optimism has improved.

It is expected that there will be a strong job market. Jobs are being added by the employees at a rate that was not observed since the boom years of the late 1990s. Approximately 3.1 million jobs have been added over the past year. In May, unemployment was at 5.5%, down from 6.3% a year earlier.