Comfort for U.S. consumers drops to six-month low due to financial concerns

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(Bloomberg) – A gauge of U.S. consumer sentiment fell last week to its lowest level in six months as U.S. ratings of their personal finances returned to levels not seen since the early months of the pandemic.

The Bloomberg Consumer Comfort Index fell 1.2 points to 43.2 points, according to data released Thursday. The eighth consecutive drop left the measurement down 6.6 points since mid-November, the biggest pullback since the stops linked to the pandemic.

US assessments of their personal finances fell another 2.2 points last week to 55.9, the lowest since late May. A gauge of current views on the economy and buying climate also eased compared to the previous week.

The national economy sub-index slipped 0.3 points to 33.7, the lowest since early July, despite a $ 900 billion coronavirus relief plan signed by President Donald Trump on December 27 , which included $ 600 stimulus checks for individuals and extended unemployment benefits through March. Consumer comfort scores are based on a four-week moving average.

A gauge of attitudes on the buying climate fell 1.1 points to 40, the lowest since October 25 and reflects an increase in restrictions on economic activity amid soaring coronavirus infections.

Thursday’s report, mirroring talks that ended Jan. 10, followed the siege of the U.S. Capitol, Democrats winning the second round of elections in Georgia and the virus continuing to spread at record rates. Comfort fell the most last week among Republicans, according to the report.

© 2021 Bloomberg L.P.

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