Americans' Economic Expectations Decline to an Eight-Month Low

Americans’ expectations about the economy deteriorated in July to an eight-month low as fewer households viewed conditions as improving, according to figures from the Bloomberg Consumer Comfort Index released Thursday.

The pickup in optimism about the economy in the months after the presidential election has faded. For the first time since November, more Americans said they thought the economy was getting worse rather than improving. However, expectations were influenced by partisanship, as 13 percent of respondents who are Democrats said the economy was strengthening compared with 48 percent of Republicans who said so. What’s more, negative views on the economy historically have been more prevalent than positive ones, according to the survey. The weekly consumer comfort gauge reflected slightly improved sentiment about personal finances and a modest rise in views about the buying climate.