U.S. Consumer Comfort Rises to Five-Week High on Economy ViewsBy
U.S. consumer confidence advanced to a five-week high as resilient job growth boosted Americans’ views of the economy, the Bloomberg Consumer Comfort Index showed Thursday.
Highlights of Consumer Comfort (Week Ended June 10)
A better-than-expected May jobs report that showed an unemployment rate at 3.8 percent, matching the lowest level since 1969, underscores Americans’ brighter views of the national economy. A steady retreat in gasoline prices from a more than three-year high at the end of last month may also be bolstering attitudes. Elevated confidence, along with firm job growth, will probably help underpin consumer spending after a first-quarter lull.
- Comfort measure among men climbed last week and fell among women; gender gap favoring men is widest since December 2006
- Confidence of full-time workers exceeds that of part-time employees by the biggest margin since August
- Sentiment for those without a high school education is lowest since the first week of January
- Comfort rose more among Americans earning more than $50,000 a year than for those making less