Consumer Comfort in U.S. Declines to Lowest Level in Seven Weeks
Source: Bloomberg
By Ali Donaldson
November 5, 2015 — 9:45 AM EST
* Sentiment about economy suffers biggest drop since February
* Confidence among full-time workers at its lowest in 11 months
Consumer confidence declined to a seven-week low as Americans’ views of the U.S. economy sank by the most since February.
The Bloomberg Consumer Comfort Index fell to 41.1 in the period ended Nov. 1 from 42.8 the week prior. After advancing to a six-month high on Oct. 11, the gauge has retreated 4.1 points, the largest three-week decrease since August 2013. The measure is a point shy of this year’s low, reached in June.
The index has given back almost all of its advance from mid-September as consumers’ opinions about the economy, buying climate and their finances waxed and waned. At the same time, the strongest back-to-back months of auto sales in 15 years show households are still spending.
“It’s been a decidedly up-and-down year for consumer sentiment, marking the difficult-to-define condition of the economy overall,” said Gary Langer, president of New York-based Langer Research Associates LLC, which conducts the survey for Bloomberg.
Read more: http://www.bloomberg.com/news/articles/2015-11-05/consumer-comfort-in-u-s-declines-to-lowest-level-in-seven-weeks
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