Consumer Confidence Falls To Almost Four-Month Low

Consumer confidence fell last week to an almost four-month low as Americans' views of the economy and their finances deteriorated. The Bloomberg Consumer Comfort Index declined to 35.5 in the period ended September 21, the worst reading since the first week of June, from 37.2. The personal finances gauge dropped by the most since mid-May, while attitudes about the world's largest economy were the dimmest in four months.

The Bloomberg gauge of Americans' views on the current state of the economy declined to 22.9 last week, the weakest since May 25, from 24. The measures of personal finances dropped to 51.3, the lowest since August 10, from 54.3. A gauge of the buying climate, which shows whether this is a good time to purchase goods and services, dropped to 32.2 from 33.4.

Sentiment among those earning less than $50,000 a year dropped to the lowest level since the period ended June 1, underscoring how bigger wage gains remain a missing element in the economy. Sentiment among households making above $50,000 a year rose by 2.4 points to 49.7, expanding the gap between the two income groups to its widest since early June.