Consumer Confidence in U.S. Advances for a Sixth Week: Economy |
| Bloomberg - Oct 4, 2012 |
Consumer confidence in the U.S. climbed for a sixth straight week, the longest such stretch since early 2006, as Americans grew more secure about their finances.
The Bloomberg Consumer Comfort Index rose in the week ended Sept. 30 to minus 36.9, a three-month high, from minus 39.6 in the previous period. Households were also less pessimistic about the buying climate and the economy. Another report showed claims for jobless benefits increased last week from a two-month low.
Fifty percent of those surveyed had “positive” views of their finances, the most since July, helping explain a pickup in September chain-store sales that beat analysts’ forecasts. Higher home values, rising stocks and stable gasoline prices may be alleviating some of the anxiety caused by an unemployment rate stuck above 8 percent since February 2009.
“The improvement hasn’t been huge, but it’s definitely noticeable,” said Guy Berger, a U.S. economist at RBS Securities Inc. in Stamford, Connecticut. “There feels like there’s a little more traction.”
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- Posted: 2012-10-04 13:38:44
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