Americans' Outlook for U.S. Economy Declines to Four-Month Low
By Ali Donaldson
September 17, 2015 — 9:45 AM EDT
Americans’ expectations for the economy sank to a four-month low in September as households fretted about financial markets and a global economic slowdown.
The measure tracking the economic outlook declined to 44.5 this month from 46 in August, data from the Bloomberg Consumer Comfort Index showed Thursday. The weekly sentiment gauge, which includes current views of the economy, personal finances and the buying climate, dropped in the period ended Sept. 13 to the second-lowest level since November.
The smallest share of respondents in a year said the economy was getting better, probably a reflection of the slump in stock prices since mid-August. While households were more downbeat last week about the buying climate, Federal Reserve officials may view recent gains in retail sales as a sign that falling gasoline prices and a stronger labor market are underpinning demand.
“Worries about the national economy come as the Fed approaches decision time on interest rates,” says Gary Langer, president of Langer Research Associates LLC in New York, which compiles the comfort index for Bloomberg. “While gas prices have fallen 34 cents since mid-August and unemployment is its lowest since 2008, wage growth remains stagnant and stock market volatility continues domestically and internationally alike.”
Economy Views
Some 36 percent of respondents said that they believe the economy is getting worse, the highest share in four months, while 25 percent said it was improving, according to the monthly expectations gauge. The weekly measure of the state of the economy dropped to 30.9, the lowest level since the period ended July 26, from 33.3.
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http://www.bloomberg.com/news/articles/2015-09-17/americans-outlook-for-u-s-economy-declines-to-four-month-low?module=TopNews&position=6_headline
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