U.S. Consumer Comfort Declines by Most in a Year on Finances
The reflection of a shopper is seen on a window as shoes are displayed for sale on Steinway Street in the Queens borough of New York.
Photographer: Mark Kauzlarich/BloombergAmericans’ confidence suffered its biggest weekly setback in more than a year as optimism about personal finances slumped, Bloomberg Consumer Comfort Index figures showed Thursday.
The data marked the fourth decline in the last five weeks following a 16-year high at the end of August. The index, now the lowest since July, is down 3.4 points from that peak. The weakness was driven by a sudden drop in optimism about personal finances, which had reached a three-month high a week earlier. The result may partly reflect what Americans are paying at the gas pump, as prices remain elevated after climbing sharply in response to Hurricane Harvey.