Americans' Outlook for U.S. Economy Declines to a 13-Month Low
Source: Bloomberg
By Ali Donaldson
October 22, 2015 — 9:45 AM EDT
Americans’ expectations for the economy deteriorated to a 13-month low in October, coinciding with a recent slowdown in hiring.
The monthly measure tracking the economic outlook declined to 42 from a September reading of 44.5, data from the Bloomberg Consumer Comfort Index showed Thursday. The share of respondents who said this month that the economy is getting worse matched May as the highest since October 2013.
The figures, along with a drop in the weekly measure of sentiment, indicate households see little room for broader improvements in the economy and labor market. Employment gains over the last two months were the smallest since the start of 2014, helping explain why retail sales were little changed in August and September, according to recent reports.
“The firmest conclusion is that consumer sentiment, though on an upward track overall for the past two years, remains vulnerable to bumps in the road,” said Gary Langer, president of the New York-based Langer Research Associates LLC, which conducts the survey for Bloomberg.
Read more: http://www.bloomberg.com/news/articles/2015-10-22/americans-outlook-for-u-s-economy-declines-to-a-13-month-low
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