Consumer Comfort Rises to Highest Level Since April 2015
Sentiment among American consumers increased in the week after the presidential election to reach the highest level since April 2015 on more upbeat views about the economy, figures from the weekly Bloomberg Consumer Comfort Index showed Nov 17.
Key Points
• Comfort gauge rose to 45.4 in week ended Nov. 13 from 45.1.
• Measure of current views on economy climbed to 38.3, also the best since April 2015, from 37.7.
• Personal finances index ticks up to four-month high of 58.6 from 58.5.
• Buying-climate gauge rises to 39.2 from 39.1.
• Monthly measure of economic expectations eased to 44 in November from 45.
Big Picture
The fourth straight pickup in confidence is a welcome sign for retailers’ prospects entering the holiday-shopping season, the busiest time of the year for sales, indicating consumers will continue to power the economy. Notwithstanding the biggest weekly decline since the end of August among Democratic voters, the figures show respondents are taking president-elect Donald Trump’s victory in stride, with scant effect on spending decisions.
The Details
• Index of comfort among Democrats slipped to 52.7 from a 15-year high of 54.8 but rose for both Republicans and political independents.
• Sentiment of part-time workers climbed to the highest level since July and increased for a fourth week among those putting in a full workweek.
• Confidence of Americans without a high school degree is strongest since March.
• Comfort climbed in the South and Northeast but fell in the Midwest.
• Index is based on a four-week rolling average of the survey.
