The Consumer Comfort Index nudged up to another pandemic high this week. Ratings of the national economy continued their advance, with nearly half of Americans viewing it as either excellent or good for the first time since March 2020.
The CCI stands at 55.0 on its 0-100 scale, up a cumulative 6.4 points since mid-March and 11.8 points from the start of the year. It’s recovered 20.3 points since hitting a nearly six-year low last May – nearly three-quarters of the way back to its level before the onset of the coronavirus pandemic.
The index is boosted by ratings of the national economy in particular, with this gauge up 8.7 points in six weeks, including 1.6 points just this week, to a new pandemic high of 49.0.
The index’s other two gauges also are at levels unseen since before the pandemic. Personal finance ratings match their one-year peak for a third consecutive week, holding at 66.9 – just 1.7 points off their pre-pandemic level. Americans’ ratings of the buying climate, while essentially unchanged this week, are up 6.1 points in five weeks to 49.2, a 13-month peak and 4.1 points off their pre-pandemic position.
Each CCI gauge also outperforms its full 35-year average: The national economy subindex is 12.6 points better than its historical average, the personal finances measure is 10.7 points better and the buying climate subindex is 12.0 points above its full average.
