U.S. Consumer Comfort Rises a Seventh Week to Fresh 16-Year High
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The seventh straight weekly gain in Americans’ confidence indicates a strong job market and healthier household finances are buoying optimism about the economy, according to Bloomberg Consumer Comfort Index figures released Thursday.
The comfort index’s 6.3-point gain over seven weeks is the strongest such streak in almost 11 years, with the measure above its 2017 average of 49.3. Labor-market progress is one big reason for Americans’ positive moods, along with stock-market gains and home-price appreciation. Last week’s improvement spanned homeowners, college-educated people and Americans near the top and bottom of the income ladder. The results are encouraging for consumer spending, which accounts for about 70 percent of the economy.