Consumer Comfort in U.S. Declines to Match Low for This Year
March 24, 2016 9:45 AM EDT
Consumer confidence in the U.S. fell last week to match the lowest level this year as Americans grew more pessimistic about the economy and the buying climate.
The Bloomberg Consumer Comfort Index slipped to 43.6 in the period ended March 20 from 44.3 the prior week. The measures tracking current views of the economy and the buying climate both dropped to the lowest level since mid-December, while perceptions of personal finances rose to a five-month high.
The divergence in attitudes likely reflects mixed economic signals, Gary Langer, president of the New York-based Langer Research Associates LLC, which compiles the data for Bloomberg, said in a statement. The weekly sentiment gauge has held in a 1-point range for 13 straight weeks, a streak thats occurred just three other times in the measures 30-year history, according to the report.
A strong labor market may be buoying personal finance evaluations, while lower-than-anticipated sales in housing and continuing difficulties due to oil prices and weak demand for exports are consistent with softening views of the national economy and buying climate alike, Langer said.
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http://www.bloomberg.com/news/articles/2016-03-24/consumer-comfort-in-u-s-declines-to-match-low-for-this-year