It's The Economy Stupid: Consumer Comfort in U.S. Climbs to Highest Level in Five Years

Consumer Comfort in U.S. Climbs to Highest Level in Five Years

 

Bloomberg Consumer Comfort

JUN 23

-28.3

-29.4

 

Don’t let the negative number mislead you.  In this survey the number is relative.  Consumer sentiment climbed last week to its highest level in more than five years as Americans became more inclined to shop.  The Bloomberg Consumer Comfort Index increased to minus 28.3 (-28.3) in the period ended June 23, its highest level since January 2008, from minus 29.4 (-29.4) a week earlier.  The low for this Consumer survey since 2008 was -54.0.   The measure of the buying climate rose for a second week in a row.  Rising residential property values and progress in the labor market have spurred demand for housing and automobiles as consumers gain confidence the expansion will be sustained. The figures indicated households are looking past the recent slump in stock prices and jump in borrowing costs as the economy heals and fuel costs retreat.

 

Economic Event	Period	Economic Survey	Actual Reported	Original Prior	Revised Prior
Personal Income	MAY	0.2%	0.5%	0.0%	0.1%
Personal Spending	MAY	0.3%	0.3%	-0.2%	-0.3%
PCE Deflator MoM	MAY	0.1%	0.1%	-0.3%
PCE Deflator YoY	MAY	1.1%	1.0%	0.7%
PCE Core MoM	MAY	0.1%	0.1%	0.0%
PCE Core YoY	MAY	1.1%	1.1%	1.1%
Initial Jobless Claims	JUN 22	345K	346K	354K	355K
Continuing Claims	JUN 15	2953K	2965K	2986K	2966K
Bloomberg Consumer Comfort	JUN 23		-28.3	-29.4
Pending Home Sales MoM	MAY	1.00%		0.30%
Pending Home Sales YoY	MAY	8.30%		13.90%
Kansas City Fed Manf Activity	JUN	3		2

 

 

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

225-342-0013

jbroussard@treasury.state.la.us