US consumer comfort tumbles to lowest point since July as COVID-19 surge cuts further into recovery optimism

SourceBusiness Insider
SectorEconomy
CountryMiddle east

The Bloomberg Consumer Comfort Index dropped 1.2 points to 43.2 in the week ended January 10 according to data released Thursday. The reading marks the lowest level since July and extends a streak of declines into its eighth week. A gauge tracking Americans' views of their finances slid to 55.9 from 58.1, its lowest since late May. The gauge's downtrend comes after rioters violently stormed the Capitol, COVID-19 cases continued to surge, and Democrats' victories in Georgia runoffs won the party control of the Senate. Visit Business Insider's homepage for more stories. A popular measure of US consumer confidence slipped last week as the COVID-19 pandemic and the slowing pace of recovery dragged on Americans' finances. Bloomberg's Consumer Comfort Index dropped to 43.2 from 44.4 for the week that ended January 10, according to data published Thursday. The reading is the lowest since July and marks the index's eighth consecutive decline. A gauge tracking Americans' views of their finances sank to 55.9 from 58.1, its lowest since late May. The survey includes responses from after insurrectionists violently stormed the Capitol and Democrats won Senate runoffs in Georgia. Read more: 'Vastly technically disconnected': A market strategist breaks down the 3 indicators that show Tesla is overpriced — ...read more...