High-Income Americans Are the Most Upbeat on Record
Tax cuts, rising household wealth and a solid job market is making high-income Americans the most upbeat since 2004.
(Bloomberg) -- Never mind the trade wars, market volatility, and other concerns clouding the U.S. outlook. High-income Americans are feeling the most upbeat in records going back to 2004.
Sentiment among those with annual household incomes of more than $100,000 jumped to 84.3 in the week ended July 1, the Bloomberg Consumer Comfort Index showed Thursday. The caveat is that such sub-gauges tend to be volatile week-to-week.
Tax cuts, rising household wealth and a solid job market are among reasons why consumers may be more sanguine, though the brighter mood doesn’t extend to those with the least pay. The comfort index for those with incomes below $15,000 fell to a three-month low of 29.4 out of a possible 100 points.
To contact the reporter on this story: Shobhana Chandra in Washington at schandra1@bloomberg.net
To contact the editors responsible for this story: Scott Lanman at slanman@bloomberg.net, Jeff Kearns, Vince Golle
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