According to Bloomberg, consumer confidence fell to a five-week low as
Americans' views on the economy and the buying climate soured.
The
Bloomberg Consumer Comfort Index declined to 36.5 in the period ended
September 7, the worst reading since the beginning of August, from 37.7
the week before. While attitudes about personal finances hovered close
to a six-year high, views on the national economy were the dimmest since
early June.
Beyond the measures of finances, which slipped to 53
from 54.2, the two other components in the Bloomberg comfort index
declined. A gauge of Americans' views on the current state of the
economy fell to 25.3 last week from 26.7 in the previous period. A gauge
of the buying climate, which shows whether this is a good time to
purchase goods and services, decreased to a 10-week low of 31.2 from
32.1.
Today's report showed sentiment fell in four of seven
income brackets last month, with confidence among those making more than
$100,000 dropping to the second-lowest level since February. Meanwhile
sentiment among households making less than $15,000 a year rose 1.3
points to 25.3, the highest level since August 2013.
Among
regions, the Midwest showed the biggest drop in sentiment last week,
with the index falling 3.7 points to 36.6. Confidence in the Northeast
fell to a five-week low and was little changed in the South and West.
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