Consumer Comfort in U.S. Falls to Two-Month Low on Economy Viewby
Bloomberg confidence gauge dropped to 40.9 last week
Measure of state of the economy second-weakest this year
Household confidence declined last week to a two-month low on dimmer perceptions of the U.S. economy.
The Bloomberg Consumer Comfort Index fell to 40.9 in the period ended Nov. 22 from 41.2 the week prior. A gauge of Americans’ views of the current economy decreased to the second-lowest level since November 2014. It marked the fifth decline in the last six weeks.
“Retailers surely hoped for a better trend heading into the holiday-shopping season,” said Gary Langer, president of New York-based Langer Research Associates LLC, which conducts the survey for Bloomberg. “That said, the CCI is almost exactly where it was at this point last year -- heading into a decent, if unexceptional, shopping season.”
The index of consumer comfort is less than a point above this year’s low of 40.1, reached in June.
The measure of the economy, which fell to 30.5 last week from 32.2, has declined 5.1 points since reaching a five-month high in mid-October. The drop failed to spill over into attitudes about the buying climate and personal finances, which barely rose from the prior week.