U.S. Consumer Comfort Climbs to Fresh 17-Year High on Finances

(Bloomberg) -- U.S. consumer sentiment advanced last week to a fresh 17-year high as greater optimism about household finances and the buying climate more than offset a deterioration in views about the economy, the Bloomberg Consumer Comfort Index showed Thursday.

Key Takeaways

Elevated sentiment, together with a strong labor market and lower taxes, may help boost household spending and support the economy. At the same time, the risk of a U.S.-China trade war amid tariff threats is casting uncertainty on the outlook for growth, though economists predict it won't amount to a major setback.

Americans with income of less than $50,000 a year as well as those earning more than $100,000 were more upbeat than the prior week, the report showed.

Other Details

• Comfort gauge among women climbed to the highest level since July 2001
• Index rose in three of four regions and declined in the South
• Comfort among political independents climbed to a fresh 17-year high
• Single Americans' sentiment was the strongest since June 2002

To contact the reporter on this story: Shobhana Chandra in Washington at schandra1@bloomberg.net.

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

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