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.
Highlights of Consumer Comfort (Week Ended April 29)
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.
- 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
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