Pedestrians and shoppers walk past Fulton Street in New York, U.S. (Photographer: Stephanie Keith/Bloomberg)

Americans’ Economic Expectations Climb to a Three-Month High

(Bloomberg) -- Optimism about the direction of the U.S. economy improved to a three-month high in November as sentiment remained supported by a robust job market and steady growth, Bloomberg Consumer Comfort Index figures showed Thursday.

Highlights of Consumer Comfort (Week Ended Nov. 12)

  • Monthly gauge of economic expectations increased to 53 in November from 47.5
  • Weekly comfort index rose to 10-week high of 52.1 from 51.5
  • Weekly index of buying climate rose to 44.2, highest since August, from 43.3
  • Weekly gauge of current views on the economy advanced to 52.1 from 51.9; personal finances measure increased to 59.8 from 59.3

Key Takeaways

The report showed 35 percent of respondents reporting that the economy is improving, while just 27 percent say it’s deteriorating. Such a gap has only been wider five times since March 2002. Americans are enjoying solid job opportunities and stock-market gains that have boosted wealth. Inflation has also remained relatively low, allowing consumers to maintain their purchasing power.

Other Details

  • Confidence rose in Northeast, South and West; fell in Midwest
  • Sentiment among men exceeded women by the widest margin in six weeks
  • Partisan gap between Democrats and Republicans widened to 10-week high, favoring Republicans by 22.2 points

©2017 Bloomberg L.P.