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Manufacturing & The Economy

Consumer Confidence in U.S. Rises to Two Month High

Confidence among U.S. consumers rose last week to its highest since early October, propelled by gains among almost every income group.

The Bloomberg Consumer Comfort Index increased to minus 31.3 in the period ended Dec. 1, its highest since Oct. 6, from minus 33.7, almost erasing declines caused by the 16-day partial federal government shutdown in October. The reading was the best for any Thanksgiving week since 2007.

All three components of the comfort index improved last week, led by a gain in personal finances, which advanced to 2.6 from 0.1 the prior period. A measure of Americans’ views of current economic conditions rose to minus 60.4 from minus 62.5 a week earlier.

The buying-climate index climbed to minus 36 from minus 38.7 as more Americans said that now is a good time to make purchases.

Each component was at its highest in two months, largely recovering from a setback triggered by the budget battle and government shutdown in October. 

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