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.
Highlights of Consumer Comfort (Week Ended June 3) |
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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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