Americans’ assessment of the economy, the buying climate and their personal finances deteriorated.
A measure of US consumer sentiment fell to a four-month low last week as Americans became more pessimistic about the state of the economy and the resurgence of Covid-19 cases.
The Bloomberg Consumer Comfort Index fell 2.4 points to 44.6 in the week that included Christmas, its lowest level since August 23, data released Thursday showed. The mood level is only a third of the way away from its prepandemic.
Americans’ assessment of the economy, the buying climate and their personal finances deteriorated. The report is against the background of increasing Covid-19 cases and renewed lockdown restrictions.
Americans’ pessimism about the economy and their financial condition persisted as lawmakers launched another new round of incentives. A $ 900 billion pandemic control bill passed by Congress on December 21 was only signed into law by President Donald Trump on December 27.
The sentiment index for the economy, at its low since early July, fell 3 points to 34, the third straight weekly decline. The indicator is down 6.5 points in the past two weeks, most since April, reflecting pessimism among Republicans.
The personal finance attitude measure fell from 61.2 to a four-month low of 58.8. Views on the buying climate have also deteriorated last week.