Confidence among U.S. consumers stabilized last week, Bloomberg reported.
The Bloomberg Consumer Comfort Index increased to minus 34.1 in the week ended March 31, from a six-week low of minus 34.4 in the prior week.
The comfort readings from January through March were the strongest on average of any first quarter since 2008, as a pickup in hiring and record stock prices helped consumers overcome any concerns about the Jan. 1 increase in taxes on their pay.
The U.S. Department of Labor's employment report set to be released tomorrow will likely set the near-term tone for household spending.
The comfort index ranges from 100, indicating every survey participant had a positive response to all survey components, to negative 100, indicating all views were negative.