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Consumer Comfort hits five-year high

Jonathan Sweet
April 18, 2013
Filed under News

Consumers are more confident than they’ve been since January 2008 according to the latest Bloomberg Consumer Comfort Index.

The weekly index climbed to minus 29.2, up from minus 34 a week earlier and it’s highest level in more than five years.

The increase was broad-based, Bloomberg said, cutting across all age groups and regions and most income levels. The exception was that lower income consumers were still concerned by higher taxes and a slowdown in hiring.

“Upper-income Americans continue to feel buoyant on the sustainable recovery,” said Joseph Brusuelas, a senior economist at Bloomberg LP in New York. “The difficulties that can be observed down the income ladder reflect the significant split in the fortunes of upper-income Americans and low-income cohorts.”

 

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