US Consumer confidence in the America's economy is at its highest in 13 years thanks to stronger financial yields and a booming stock market.

According to a new University of Michigan survey released Friday, consumer sentiments rose higher than expected due to a number of factors and ascending trends.

Falling gas prices, repeated highs for the stock market and record low unemployment have all contributed to increasingly optimistic perceptions about the financial health of individual households and the general economy, according to Bloomberg.

US Consumer confidence in America's economy is at its highest in 13 years, a new University of Michigan survey found

Falling gas prices, repeated highs for the stock market and record low unemployment have all contributed to optimistic attitudes

The number of Americans showing improved finances, however, failed to register any significant gains holding steady at about half

Recovery efforts following a post-hurricane period was also a factor in the study.

The survey found that the 'sentiment index rose to 101.1 (est. 95), highest since Jan. 2004, from 95.1 in Sept,' while 'Americans’ perceptions of their finances... jumped to 116.4, highest since Nov. 2000, from 111.7.'

Bloomberg noted that nearly six out of 10 consumers believed that the economy had significantly strengthen over the past year leading up to October.

Bloomberg noted that nearly six out of 10 consumers believed that the economy had significantly strengthen

'While the early October surge indicates greater optimism about the future course of the economy, it also reflects an unmistakable sense among consumers that economic prospects are now about as good as could be expected,' director of the University of Michigan consumer survey, Richard Curtin, said in a statement.

'Indeed, nothing in the latest survey indicates that consumers anticipate an economic downturn anytime soon -- which contrarians may consider a clear warning sign of trouble ahead.'

The number of Americans showing improved finances, however, failed to register any significant gains holding steady at about half.

Confidence among consumers who believed that their wages would improve in the future also fell slightly to 40 percent.

Other noteworthy details stated that positive vehicle-buying attitudes were at their highest since 2004.