Customers shop at a Walmart Inc. store in Secaucus, New Jersey, U.S. (Photographer: Timothy Fadek/Bloomberg)

U.S. Consumer Comfort Reaches Two-Month High on Views of Economy

(Bloomberg) -- Americans’ sentiment improved to the best level in two months on brighter views of the economy and personal finances, the Bloomberg Consumer Comfort Index showed Thursday.

Highlights of Consumer Comfort (Week Ended June 24)

  • Weekly index increased to 57.3, the third straight advance, from 56.5
  • Gauge tracking current views of the economy advanced to 58, the highest since March, from 57.3
  • Measure of buying climate increased to a nine-week high of 49.9 from 49.3
  • Gauge of personal finances rose to 63.9, the strongest reading since April 22, from 63

Key Takeaways

Views about the economy are hovering near the best level since 2000 as a strong labor market and durable expansion offset any concerns about the effects of trade tensions. Lower taxes and a recent decline in gas prices are leaving more money in consumers’ pockets, with the survey showing sentiment among those earning less than $50,000 advancing to the highest in data back to 2010.

Other Details

  • The gap between high and low-income earners remains about even with historical levels after easing from a record about a year earlier
  • Sentiment among Democrats rose this week to match the highest reading since early March; comfort eased among Republicans from an all-time high the prior week

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