Consumer Confidence Cools as U.S. Jobless Claims Rise
This article is for subscribers only.
Confidence among U.S. consumers fell to a six-week low and claims for jobless benefits rose more than forecast, highlighting the risks to the economy posed by federal government budget cuts.
The Bloomberg Consumer Comfort Index dropped to minus 34.4 in the week ended March from minus 33.9 as Americans’ views of the economy deteriorated to the lowest point since early February. Applications for unemployment insurance benefits rose by 16,000 to 357,000 last week, the Labor Department said.