Consumer Confidence in U.S. Declines to More Than One-Year Low

Consumer confidence eroded for a fifth straight week, reaching the lowest level in more than a year as pessimism about the economy chipped away at views of conditions closer to home.

The Bloomberg Consumer Comfort Index fell in the period ended Oct. 27 to minus 37.6, the weakest reading since October 2012, from minus 36.1. While the end of the 16-day federal government shutdown helped stabilize a measure of outlooks for the economy, households grew more pessimistic about their finances and the buying climate.