American Consumer Comfort Closes In on Best Year Since 2007

Household confidence in the U.S. is closing in on its best year since before the last recession, according to figures in the Bloomberg Consumer Comfort Index released Thursday.

While leveling out during the week that included the Christmas holiday, the comfort gauge is in line with other measures of confidence that have been surging since President-elect Donald Trump’s victory in November. Republicans, higher-income individuals, homeowners and full-time workers have been especially optimistic. Expectations are high that Trump will deliver on promises to boost jobs, wages and growth and ease taxes and regulatory burdens. Further gains in sentiment will depend in part on how Americans judge the new administration is measuring up against those pledges, and helping to keep the economy churning more than seven years after the end of the last recession.