Tags: consumer | comfort | 17 | year | high | economy

Bloomberg Consumer Comfort Index Hits New 17-Year High

USA consumer comfort rise depicted as an arrow rising out of an American flag shopping bag in shape of a head
(Skypixel/Dreamstime)

Thursday, 20 September 2018 01:23 PM

U.S. consumer sentiment advanced last week to a fresh 17-year high on brighter views of the economy, personal finances and the buying climate, the Bloomberg Consumer Comfort Index showed Thursday.

Highlights of Consumer Comfort (Week Ended Sept. 16)

  • Weekly comfort  index rose to 60.2, the highest since January 2001, from 59
  • Gauge tracking views of  economy also rose to a new a 17-year high, climbing to 64.3 from 62.9
  • Measure of  buying climate climbed to 52.5, highest since September 2000, from 51.5
  • Monthly economic  expectations index rose to 57.5 in September, the highest since March 2002

Key Takeaways

Rising confidence across all three index components shows Americans growing more upbeat amid one of the best job markets in decades and should support household spending, the largest component of the economy. The survey responses are consistent with consumer sentiment reflected in the latest University of Michigan report, which showed confidence in September jumped to a six-month high. Gaps, however, persist among comfort figures by race, income, and political affiliation.

In addition, the intensifying trade war could weigh on consumer moods as the Trump administration proceeds with tariffs on $200 billion in Chinese goods starting next week, something that economists say may fuel inflation on everyday items such as food, furniture and clothing.

Other Details

  • Rating of personal finances improved to 63.7 from 62.6
  • Sentiment among Republicans jumped to 79.8, a record in data since June 1990, while the mood among Democrats also increased and the reading for independents edged down
  • The comfort gauge for the South increased to near-record 64.3 as readings also improved across the Midwest, Northeast and West
  • Confidence among married respondents reached a record 71.5

© Copyright 2018 Bloomberg News. All rights reserved.

   
1Like our page
2Share
StreetTalk
U.S. consumer sentiment advanced last week to a fresh 17-year high on brighter views of the economy, personal finances and the buying climate, the Bloomberg Consumer Comfort Index showed Thursday.
consumer, comfort, 17, year, high, economy
277
2018-23-20
Thursday, 20 September 2018 01:23 PM
Newsmax Media, Inc.
 

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