June 14 (Bloomberg) -- Consumer confidence in the U.S. climbed for the fourth straight week as more Americans said their personal finances were improving.
The Bloomberg Consumer Comfort Index rose to minus 36.4 in the week ended June 10, the highest level since late April, from minus 37.6 the prior period. Each of its three components -- the economy, finances and buying plans -- advanced.
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"It's more convincing evidence that the economy is stuck in low gear," said Joe Manimbo, a market analyst at Travelex Global Business Payments.
Other reports pointed to cooling factory activity in New York state this month, along with a drop in household confidence in the economy.
The fall in confidence poses a serious threat to President Barack Obama's chances of winning re-election in November. It could also lead consumers to cut back on spending, which would reduce economic growth.
"Consumers are scared," said Sharon Stark, managing director at Sterne Agee in Birmingham, Alabama.