Americans’ sentiment cooled as a gauge of views on the economy fell to a five-month low, the Bloomberg Consumer Comfort Index showed Thursday.
|Highlights of Consumer Comfort (Week Ended June 3)|
Even with the latest results, the weekly comfort index is running only slightly below its 2018 average of 55.9, having cooled gradually from a 17-year high reached in mid-April. Rising gasoline costs are a headwind for Americans’ pocketbooks, though that’s being cushioned by the strong labor market. Firmer job growth helps explain why economists are projecting a pickup in second-quarter consumer spending.
- Comfort gauge for Americans older than 65 fell to a five-week low of 56.6
- The index declined in three of four regions, and rose in the West
- Index among Republicans was little changed and climbed to a six-week high among Democrats
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