U.S. Consumer Comfort Just Reached Its Highest Level in a Decade
- Sentiment about U.S. economy is strongest since August 2001
- Confidence extends beyond Republicans as independents upbeat
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Americans’ confidence continued to mount last week as the Bloomberg Consumer Comfort Index reached the highest point in a decade on more-upbeat assessments about the economy and buying climate, figures showed Thursday.
Stock indexes near record highs and persistent strength in the job market have lifted the consumer comfort gauge in five of the last six weeks since the inauguration of President Donald Trump. The report showed respondents view the buying climate as the most favorable in nearly 15 years, indicating household spending may rebound after a slow start to 2017. While sentiment has been particularly strong among those who vote Republican, the data also showed political independents were the most upbeat since July 2001.