U.S. Consumer Comfort Climbs to a Six-Week High on Finances View

(Bloomberg) -- Household sentiment in the U.S. advanced to a six-week high as rising stock prices and the return to work for many Americans continued to lift consumer attitudes about their personal finances.

The Bloomberg Consumer Comfort Index rose 1.7 points, the most since June 2019, to 38.7 in the first week of June, according to the survey released Thursday. The confidence gauge has increased 4 points in the last three weeks, matching the biggest similar-period gain since October 2015.

The measure of personal finances improved to a mid-April high of 58.5. Powered by a stock market that has recovered most of its February-March swoon, the index of finances has increased 5.7 points in the latest three weeks, the biggest advance since February 2011.

What’s more, as businesses reopen from coronavirus-related lockdowns, employment is on the mend. The government reported earlier this month that payrolls increased 2.5 million in May. Consumer attitudes about the buying climate also improved in the first week of June, the comfort report showed.

At the same time, consumers remain uncertain about the economy, which is reopening slowly and unevenly. The comfort gauge of views on the economy was little changed at 23.3, and has shown scant improvement since falling in May to the lowest level since 2014.

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