Investors aren’t the only ones jumping on the couch with joy, however. American consumers are expressing levels of confidence we haven’t seen in years, suggesting 2017 could be a banner year for retailers, who already saw a phenomenal year-over-year sales increase of 5.6 % in January. This, of course, bodes well for the U.S. economy going forward, as consumer spending makes up an estimated 70 % of the country’s economic activity.

Besides a host of positive economic data—low unemployment, strong household income growth—recent consumer polls and surveys show Americans feel confident about their financial prospects in the coming year and are ready to start splurging.