The Bloomberg Consumer Confidence Index climbed for the fourth straight month, reaching -42.6, the best reading since the end of February.
However, the index remains in negative territory, as rising fuel costs have concerned many Americans, Bloomberg said.
“Consumer sentiment is resting on the knife’s edge,” said Bloomberg Senior Economist Joseph Brusuelas. “Sentiment is likely to continue to move based on labor market conditions, fuel costs and equity prices.”
Gary Langer, president of Langer Research Associates, which compiles the index for Bloomberg via interviews with 1,000 adults, said, “In addition to increased pain at the pump, politics play a role in heightened economic worry.”
Two of three subcomponents of the index also rose, with the reading on views on the economy ticking up to -78.2. The measure of personal finances increased to -0.3, the highest since the end of February. However, the index of the buying climate declines to -.49.2 from -48.
Separately, Bloomberg’s gauge of economic expectations declined for a third straight month to -16, its lowest level since September 2009. Forty percent of respondents said the economy is getting worse.