Consumer Comfort in U.S. Hovers Near Highest Level in 17 Years

(Bloomberg) -- Americans' sentiment remained close to a 17-year high on rosier views of personal finances and the buying climate, as workers enjoy more take-home pay after the recent tax-cut legislation, according to the weekly Bloomberg Consumer Comfort Index released Thursday.

Key Takeaways

Robust sentiment last week was driven by a pickup in optimism among middle- and upper-income Americans. Comfort among those earning $50,000 or more annually reached a 17-year high last week. At the same time, confidence declined among people earning less than $50,000, highlighting disparities in comfort levels among different income groups. Sustained optimism and lower taxes have the potential of boosting consumer spending, which accounts for about two-thirds of the economy.

Other Details

• Comfort among Americans with a college education reached the highest reading since March 2001
• Married Americans reported their highest comfort level since December 2000
• Among the four U.S. regions, sentiment was higher last week only in the South

To contact the reporter on this story: Shelly Hagan in Washington at shagan9@bloomberg.net.

To contact the editors responsible for this story: Brendan Murray at brmurray@bloomberg.net, Vince Golle, Scott Lanman

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