Economics
U.S. Comfort Gauge Posts Steepest Three-Week Decline Since 2008
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A measure of U.S. consumer sentiment posted its steepest three-week slump since 2008 as optimism tumbled among lower-income Americans, a sign that economic strength may be failing to persist more broadly throughout the country.
The Bloomberg Consumer Comfort Index tumbled to a nine-month low of 58 in the week ended Nov. 10, according to data released Thursday. All three components declined, with views of the economy the lowest since June 2018, assessments of personal finances the weakest since January, and the buying climate gauge the lowest since June.