Consumer Comfort Gain Reflects Steady U.S. Labor-Market ProgressBy
More favorable attitudes about personal finances and the economy helped bolster Americans’ confidence last week, according to Bloomberg Consumer Comfort Index figures released Thursday.
|Highlights of Bloomberg Consumer Comfort (Week Ended July 23)|
The results, including six-week highs in comfort about finances and the buying climate, reflect a labor market that continues to make progress and healthier household finances boosted by stock-market gains and home-equity appreciation. An improvement in sentiment bodes well for consumer spending, which accounts for about 70 percent of the economy.
At the same time, sentiment remains divided by income level: the comfort index for Americans making at least $100,000 a year, while falling to an almost six-month low of 72.1, was roughly double the 36.6 reading for those earning less than $50,000.
- Comfort index jumped among part-time workers to the highest since February 2007
- Confidence also rose for full-time employees, homeowners and renters
- Sentiment rose in three of four regions last week; fell in the Northeast