Consumer Comfort Lowest Since Mid-June
Consumer confidence the week ended July 24 held at the lowest level since mid-June with little change in Americans’ attitudes about the economy, personal finances and the buying climate, according to the weekly Bloomberg Consumer Comfort Index released July 28.
Key Points
• Comfort measure held at 42.9 in the week ended July 24.
• Gauge of views on the economy at 32.7 from 32.8.
• Personal finances index at 57.7 compared with 57.6.
• Measure of buying climate eased to 38.2 from 38.3.
Big Picture
Household attitudes were in a holding pattern last week as they continued to digest the presidential race, a still-strong labor market and rising stock prices. This year has been one of the most stable on record for the comfort index. The data corroborate other measures of confidence, including the Conference Board’s July reading and figures from the University of Michigan. One positive detail from this week’s comfort report was a jump in sentiment among the lowest-income earners, which may be a sign that the recovery is extending its reach.
The Details
• Index of confidence for those earning less $15,000 a year rose to a nine-year high of 34.4.
• Comfort retreated in five out of seven income brackets, increasing only among the two groups with a yearly income of less than $25,000.
• Sentiment in the Northeast region rose to 45.3, the highest since April.
• Comfort index for those identifying as political independents rose to 43.7, the highest since mid-January.
