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Consumer confidence last week held close to the highest level in more than 15 years as Americans felt a little better about their finances and whether it’s a good time to spend, Bloomberg Consumer Comfort Index data showed May 4.
Key Points
• Weekly comfort measure little changed at 50.9 in the week ended April 30, close to 51.3 reached in March that was the strongest since August 2001, after 50.8 the prior week.
• Buying-climate gauge jumped to a five-week high of 44.4 from 43.
• Measure of personal finances edged up to 59.9 from 59.7.
• Sentiment about national economy declined to 48.3 from 49.6 in the prior week that was the strongest since 2001.
Big Picture
Steady hiring, along with layoffs that are near the fewest in decades, are keeping households upbeat about their financial situation. Rising stock and home prices are also behind the optimism, with homeowners feeling especially positive in the latest survey.
Burgeoning wage growth also should help convince more consumers to put their wallets to work as the U.S. economy recovers from its now-typical first-quarter slump.
| By Michelle Jamrisko Bloomberg News |
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