U.S. Consumer Comfort Falls for Second Week
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Americans’ confidence retreated for a second week as consumers’ assessment of the buying climate deteriorated on the heels of higher fuel prices, Bloomberg Consumer Comfort Index figures showed Thursday.
The gauge of whether it’s a good time to make purchases has fallen 3.6 points in the last two weeks, the largest decrease over a similar period since 2015 and reflecting a jump in gasoline prices since Hurricane Harvey struck Texas. Even so, strong job growth is helping Americans remain relatively upbeat about their finances as well as the economy. The comfort index remains close to the 16-year high reached two weeks ago and suggests consumer spending will stay resilient.