Bloomberg by the Numbers: 37.6

A shopper in San Francisco.

Photograph by David Paul Morris/Bloomberg

A shopper in San Francisco.

The Bloomberg Consumer Comfort Index rose to 37.6 from 36.4 on a zero-to-100 scale for the week ended July 6.

That’s the third-highest reading in the past 6 ½ years, according to Langer Research Associates, which produces the index.

“More hiring and fewer firings this year have helped firm sentiment, setting the stage for a pickup in consumer spending that will probably bolster the economy,” Bloomberg’s Nina Glinski reported. “Middle-income and wealthier households were among those turning more optimistic last week as stocks rose to a record and gasoline prices stabilized.”

The comfort index is based on how Americans rate the national economy, their personal finances and the buying climate.

The national economy sub-index was 27.7 for the week ended July 6, up 7.1 points since mid-May, according to a written analysis by Langer Research Associates.

Gross domestic product will expand 3.1 percent from July to December, according to the median forecast of a Bloomberg survey of 74 economists polled from July 3-9, Bloomberg’s Michelle Jamrisko and Catarina Saraiva reported.

 

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