Consumer Comfort in US Improves on Economy
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U.S. consumer comfort improved slightly last week as more upbeat assessments of the economy and buying climate were tempered by the weakest reading on personal finances in almost two months.
The Bloomberg Consumer Comfort Index advanced to 62.7 in the week ended Oct. 6 from 62, data released Oct. 10 showed. The measure of views of the economy rose to a 10-week high, while the buying gauge was the strongest in five weeks. At the same time, the index of comfort about personal finances dipped to an almost two-month low.
The main index, just 2 points from the highest level since late 2000, follows mixed confidence readings in September. The University of Michigan Consumer Sentiment Index rebounded after a sharp drop in August, while the Conference Board’s measure posted the biggest decline in nine months.
Consumer comfort among Republicans dropped to a fresh 11-week low, while for Democrats it was little changed. Full-time workers’ sentiment reached the highest level since February 2000.
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