Consumer Comfort in U.S. Improves to Highest Since Early April

(Bloomberg) -- A weekly measure of U.S. consumer confidence advanced to the highest level early April as sentiment about personal finances approached pre-pandemic levels.

The Bloomberg Consumer Comfort Index rose 1.9 points to 49.8 last week, data released Thursday showed. While the gauge has gained 15.1 points since hitting a six-year low in mid-May, it remains well below readings prior to the coronavirus-related shutdowns.

Gauges of comfort in personal finances and the buying climate both rose 2 points last week, while a measure of the economy gained 1.8 points. At 66.2, the finances index is just 2.4 points below its mid-March level. Such optimism may support further growth in consumer spending, which accounts for about two-thirds of the economy.

The rise in optimism in the latest week was concentrated among women and lower-income Americans. The measure among women increased 3.4 points this week to 46, the highest since early April.

Comfort among Americans with annual household incomes less than $50,000 rose 3.9 points to 40.5, narrowing the sentiment gap between Americans with lower and higher incomes.

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