Bloomberg Consumer Comfort Index Falls To A Five Week Low

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.