U.S. Consumer Comfort Drops to Five-Month Low on Economic Views
Consumer confidence fell last week to a five-month low as Americans became more downbeat about the economy, Bloomberg Consumer Comfort data showed Thursday. Sentiment around personal finances and the buying climate were little changed after declining the previous week.
Key Points
Consumer Comfort Index eased to 41.7 in the week ended May 8, the lowest since mid-December, from 42
Decrease was led by dimming views of the national economy, with that index sinking 2 points to 30.6, also the weakest in five months
Americans’ views of their finances were little changed at 55.4 after 55.3, while a measure of the buying climate climbed to 39.1 from 38.2
Big Picture
Moderation in labor-market improvement, impatience with the pace of wage gains and decelerating economic growth are disappointing Americans amid divisive election-year campaigning. The weekly gauge matches the tone of monthly reports on confidence. The Conference Board’s measure has declined since the end of last year and the University of Michigan’s index last month was the weakest since September. One silver lining: this year’s average reading in the comfort gauge is the best of the expansion, signaling consumers will keep spending.
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http://www.bloomberg.com/news/articles/2016-05-12/u-s-consumer-comfort-drops-to-five-month-low-on-economic-views
