For the first time since the beginning of autumn, consumers nationwide appear to be comfortable with their finances, a Bloomberg survey reveals.
The news outlet’s Consumer Comfort Index finished the week ending September 20 at a reading of minus-42. The level was the lowest in roughly four months. However, it marked the first actual increase in the index since late July.
“A slower pace of initial jobless claims and falling gasoline prices modestly bolstered confidence,” said Bloomberg senior economist Joseph Brusuelas. He added there is still some financial dissatisfaction among many consumers.
Gary Langer, president of Langer Research, told the source diminished payroll gains in recent months are likely to blame for the level of comfort. An improved jobs market is clearly a major factor in consumer sentiment, he continued.
Sentiment Among Consumers Grows
A separate report indicates consumers’ views of the economy and their own finances improved as well during September. The Thomson Reuters/University of Michigan consumer sentiment survey shows consumer confidence reached a four-year high during the month.
Consumer sentiment regarding the overall economy reached an index of minus-68.7. The survey’s buying climate index hiked as well, climbing to minus-46.5. Additionally, the personal finances index improved to a reading of 10.8.
Financial Assistance Needed for Many Americans
Despite positive movement in the economy and personal finances, numerous Americans still need financial help. Workers can seek out payday loans to help deal with financial woes. These loans have proven helpful for a number of consumers. Uncertain conditions for consumers may mean it is time to take action and contact a lender to secure fiscal help.