Consumer Comfort in U.S. Climbs to Highest Since Early April
- Americans’ views on the economy rose to six-week high
- Personal finances index edged up to two-month high last week
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Household confidence increased for a second week, reaching the highest level since early April as Americans felt better about the economy and the buying climate, according to the weekly Bloomberg Consumer Comfort Index released Thursday.
The comfort gauge, while stuck in a narrow range since March, is having its best year on average since 2007. Better moods bode well for consumer spending, the biggest part of the economy, which is projected to help revive economic growth this quarter after a weak start to the year. At the same time, the index hasn’t gained meaningfully this year, and the job market may be playing a role. Employment gains slowed in May, while the jobless rate fell as more people dropped out of the labor force.