U.S. Consumer Comfort Falls for Eighth Week to Lowest Since 2014

(Bloomberg) -- Household sentiment in the U.S. declined for an eighth straight week, albeit at a slower pace, as consumers’ attitudes about the economy continued to weaken because of the pandemic.

The Bloomberg Consumer Comfort Index fell 1.1 points, the smallest decline in two months, to 35.8 in the week ended May 10, according to the survey released Thursday. The confidence measure and a separate gauge of views about the economy are the lowest since September 2014.

Sentiment about the economy, waylaid by widespread business closures and millions of layoffs, has dropped every week since the end of January. The comfort report’s measures of personal finances and the buying climate also fell last week, but marginally.

While the pace of deterioration in sentiment slowed last week, the overall consumer comfort reading has slumped 31.5 points from its 20-year high reached at the end of January and is now just 12.8 points from its record low of 23 during the last recession.

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