Elevated U.S. Consumer Comfort Index Signals Sustained GrowthBy
Americans’ confidence hovering near a decade high bodes well for sustained expansion in the U.S. economy, Bloomberg Consumer Comfort Index figures showed Thursday.
|Highlights of Consumer Comfort (Week Ended June 4)|
The latest reading, the first decline in four weeks, remains consistent with projections for a rebound in growth this quarter. Steady hiring, stock-market gains and rising home equity are helping Americans stay upbeat, an encouraging signal for consumer spending, which accounts for almost 70 percent of the economy. Even with the drop in the index of the buying climate, the measure remains above this year’s average.
- Index of sentiment about the national economy rose to 45.3 from 44.2
- Confidence among full-time workers highest since early April
- Sentiment gauge for Americans earning less than $15,000 a year increased to six-week high, while it fell for those who make more than $100,000
- The comfort index for Republicans fell, while still outpacing the gauge for Democrats, which inched up