High Gas Prices Push U.S. Consumer Comfort to Seven-Week Low

(Bloomberg) -- Rising prices at the gas pump helped drive U.S. household sentiment to a seven-week low at the end of April, the Bloomberg Consumer Comfort Index showed on Thursday.

Key Takeaways

Confidence took another step back just two weeks after reaching a 17-year high, with Americans now paying the most for a gallon of gasoline since November 2014. Costlier fill-ups leave less to spend on other goods and services, helping explain the largest decline in the buying-climate index since September. At the same time, the measure of consumer comfort is in line with this year’s average.

Other Details

• Comfort index for those in the West slumped 2.9 points, the most since October, while sentiment in the Northeast declined for a third week
• Confidence weakened among most income groups

©2018 Bloomberg L.P.