Consumer Comfort in U.S. Increases to a Three-Month High
- Americans more upbeat about economy, finances, buying climate
- The 2.1 point advance ends record 32 weeks in narrow band
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Consumer confidence climbed to the highest point since mid-March as Americans grew more optimistic about the economy, personal finances and the buying climate, according to the weekly Bloomberg Consumer Comfort Index released Thursday.
Consumer confidence bounced back with a 2.1 point increase after holding in a 1.5-point range for a record 32 weeks. The improvement in sentiment coincides with a pickup in May retail sales and more purchases of previously owned homes, underscoring forecasts that consumer spending and the economy are gathering pace in the second quarter after a slow start to the year.