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Consumer comfort in U.S. rises to second-highest level in a year

Consumer confidence climbed last week to the second-highest level in a year as an improving job market bolstered Americans views of their financial well-being.

By Shobhana Chandra, Bloomberg | Updated on September 04, 2014
Sept. 4 (Bloomberg) — Consumer confidence climbed last week to the second-highest level in a year as an improving job market bolstered Americans’ views of their financial well-being.

The Bloomberg Consumer Comfort Index rose to 37.7 in the period ended Aug. 31 from 37.3 the prior week. A measure of personal finances increased to 54.2, matching the strongest reading since April 2008.

Sentiment among most income groups improved, with Americans making less than $50,000 becoming the most upbeat in a year as gasoline prices declined. More optimism on the heels of greater employment prospects and stock-market gains has the potential to stoke consumer spending, which accounts for about 70 percent of the economy.

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