Consumer Comfort in U.S. Declines to Extend September Retreat

[Purveyor]

By Agnel Philip
September 21, 2017, 9:45 AM EDT

American household confidence declined last week, extending a September retreat from a 16-year high the previous month as consumers became less upbeat about the economy, the buying climate and their finances, Bloomberg Consumer Comfort Index figures showed Thursday.

Highlights of Consumer Comfort (Week Ended Sept. 17)
Main index dropped to 50.6, a seven-week low, from 51.9
Index of buying climate eased to a two-month low of 42.1 from 42.5
Gauge of current views on the economy decreased to 50.7 from 53.2
Measure of comfort about personal finances declined to 59 from 59.9
Monthly gauge of economic expectations fell to 51.5 in September from 54

Key Takeaways

The latest results marked the first time that all three sub-indices have fallen during the same week since July. Consumers’ views of the buying climate deteriorated as gasoline prices remained higher than they were in August before Hurricane Harvey disrupted refinery output in the Houston area.

The report also showed a tempering of economic expectations as 31 percent said the economy was improving, down from 36 percent in August. More respondents in September said the economy was staying the same than said it was getting better. Even with the setback this month, the level of consumer comfort exceeds the 2017 average and is higher than its long-term mean, suggesting spending -- which accounts for about 70 percent of the economy -- will remain steady.

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https://www.bloomberg.com/news/articles/2017-09-21/consumer-comfort-in-u-s-declines-to-extend-september-retreat

[DK504]

1. People are beginning to see what the hell is really happening.

They can't afford gasoline for trips, since the hurricans, the price gouging began before Harvey hit here in the South. Despite the low unemployment rate we need to know what kind of jobs are they? Busboy, Walmart, engineers, doctors, health care workers that will lose their job if this death bill passes, what kind of jobs?

Supposedly capita per year went up to $50K per year, here in the South thats a fortune, in DC that is unable to get by, in California it's a joke.

We are realizing how much trouble we are in and are preparing for the disaster.