🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Consumers Start Feeling More Comfortable

Published 05/29/2020, 12:33 PM
Updated 05/29/2020, 01:36 PM
© Bloomberg. Pedestrians with and without protective masks walk on Hollywood Boardwalk in Hollywood, Florida, U.S., on Saturday May 23, 2020. Palm Beach County beaches reopened this week, ahead of the Memorial Day holiday, after Governor Ron DeSantis issued executive orders allowing certain businesses to reopen with restrictions. Photographer: Jayme Gershen/Bloomberg

(Bloomberg Opinion) -- The Bloomberg Consumer Comfort Index(1) rose Thursday for the first time in 10 weeks — ticking up to 35.5 from 34.7. This sliver of positivity is set against the depressing, if not unexpected, fact that the index is down 27.5 points from mid-March, and 31.8 points from a two-decade peak in January. 

A closer look at the data reveals interesting differences in reported comfort between men and women; Republicans and Democrats; and those who didn't graduate from high school and those with a college degree or higher. Curiously, there is little difference between age groups. 

One sign that relationships may not be thriving in lockdown comes from the comfort gap between the married and the single. In May 2019, this gap was 14.1 points, with married people feeling more comfortable; it now stands at just 3.3, with a significant decline for married people.

Although the chasm between the most and least comfortable groups has significantly narrowed as a result of Covid-19, it remains the case that the happiest U.S. consumers are white, Republican, college-educated men who have full-time jobs, own their own homes and enjoy household incomes of over $100,000. Plus ça change.

 

(1) The index is based on a weekly, random-sample national phone survey that asks respondents to rate the economy, the buying climateand their personal finances as excellent, good, not so goodor poor.

This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

Ben Schott is a Bloomberg Opinion visual columnist. He created the Schott’s Original Miscellany and Schott’s Almanac series, and writes for newspapers and magazines around the world.

©2020 Bloomberg L.P.

© Bloomberg. Pedestrians with and without protective masks walk on Hollywood Boardwalk in Hollywood, Florida, U.S., on Saturday May 23, 2020. Palm Beach County beaches reopened this week, ahead of the Memorial Day holiday, after Governor Ron DeSantis issued executive orders allowing certain businesses to reopen with restrictions. Photographer: Jayme Gershen/Bloomberg

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.