High Gas Prices Push U.S. Consumer Comfort to Seven-Week Low
Higher Gas Prices Push U.S. Consumer Comfort to a 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) |
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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
To contact the reporter on this story: Vince Golle in Washington at vgolle@bloomberg.net.
To contact the editor responsible for this story: Scott Lanman at slanman@bloomberg.net.
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