U.S. Consumer Comfort Cools as Economy Views Hit Five-Month Low

(Bloomberg) -- Americans' sentiment cooled as a gauge of views on the economy fell to a five-month low, the Bloomberg Consumer Comfort Index showed Thursday.

Key Takeaways

Even with the latest results, the weekly comfort index is running only slightly below its 2018 average of 55.9, having cooled gradually from a 17-year high reached in mid-April. Rising gasoline costs are a headwind for Americans' pocketbooks, though that's being cushioned by the strong labor market. Firmer job growth helps explain why economists are projecting a pickup in second-quarter consumer spending.

Other Details

• Comfort gauge for Americans older than 65 fell to a five-week low of 56.6
• The index declined in three of four regions, and rose in the West
• Index among Republicans was little changed and climbed to a six-week high among Democrats

--With assistance from Jordan Yadoo.

To contact the reporter on this story: Shobhana Chandra in Washington at schandra1@bloomberg.net

To contact the editors responsible for this story: Scott Lanman at slanman@bloomberg.net, Vince Golle

©2018 Bloomberg L.P.

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