Americans’ Economic Expectations Climb to a Three-Month High
Optimism about the direction of the U.S. economy improved to a three-month high in November as sentiment remained supported by a robust job market and steady growth, Bloomberg Consumer Comfort Index figures showed Nov. 16.
Highlights of Consumer Comfort for the Week Ended Nov. 12
• Monthly gauge of economic expectations increased to 53 in November from 47.5.
• Weekly comfort index rose to 10-week high of 52.1 from 51.5.
• Weekly index of buying climate rose to 44.2, highest since August, from 43.3.
• Weekly gauge of current views on the economy advanced to 52.1 from 51.9; personal finances measure increased to 59.8 from 59.3.
The report showed 35% of respondents reporting that the economy is improving, while just 27% say it’s deteriorating.
Such a gap has only been wider five times since March 2002.
Americans are enjoying solid job opportunities and stock-market gains that have boosted wealth. Inflation has also remained relatively low, allowing consumers to maintain their purchasing power.
• Confidence rose in Northeast, South and West; fell in Midwest.
• Sentiment among men exceeded women by the widest margin in six weeks.
• Partisan gap between Democrats and Republicans widened to 10-week high, favoring Republicans by 22.2 points.