Consumer Comfort Climbs to Five-Month High

Consumer confidence in the U.S. rose last week to the highest level in more than five months and the pace of firings declined, showing an improving job market is bolstering the biggest part of the economy.

The Bloomberg Consumer Comfort Index (COMFCOMF) climbed to minus 44.8 in the period ended Dec. 31, the best reading since mid-July, from minus 47.5 the prior week. Applications for jobless benefits (INJCJC) decreased by 15,000 during the same time to 372,000, according to Labor Department figures.

A pickup in hiring will further lift Americans’ moods, raising the odds household spending, which accounts for about 70 percent of the economy, will keep climbing. A Labor Department report tomorrow may show employers added more workers to payrolls in December, brightening the outlook for growth this year.

Read Full Article from Bloomberg

- Posted: 2012-01-05 12:10:52

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