Tags: Consumer | Comfort | Index | Economic | Growth

Elevated Consumer Comfort Index Signals Sustained Economic Growth

Elevated Consumer Comfort Index Signals Sustained Economic Growth

(Dreamstime)

Thursday, 08 June 2017 11:50 AM EDT

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)
  • Overall comfort measure at 49.9 after prior week’s 51.2, which was the second-strongest level since 2001
  • Gauge of personal finances declined to 60.4 from decade-high reading of 63
  • Index of buying climate drops by most since August, to 44.1 from 46.3

Key Takeaways

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.

Other Details

  • 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

© Copyright 2024 Bloomberg News. All rights reserved.


Economy
Americans’ confidence hovering near a decade high bodes well for sustained expansion in the U.S. economy, Bloomberg Consumer Comfort Index figures showed Thursday.
Consumer, Comfort, Index, Economic, Growth
202
2017-50-08
Thursday, 08 June 2017 11:50 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved