Consumer Confidence in U.S. Drops for Sixth Consecutive Week

[Purveyor]

Source: Bloomberg

Consumer confidence in the U.S. fell for the sixth week in a row, reaching the lowest level in a year as Americans struggled to make ends meet.

The Bloomberg Consumer Comfort Index declined to minus 37.9 in the week ended Nov. 3, the worst reading since October 2012, from minus 37.6. The one-week drop was the smallest since the partial government shutdown ended in the middle of last month.

A slowdown in hiring brought on by the fiscal gridlock in Washington, combined with the troubled rollout of the Obama administration’s online health-care exchanges, may damp sentiment ahead of the holiday-shopping season. At the same time, gains in equities and property values are sustaining higher-income earners, leading to the biggest divergence in attitudes in three years.

“Concerns about personal finances and deterioration in the buying climate underscore further declines in consumer comfort,” said Joseph Brusuelas, a senior economist at Bloomberg LP in New York. “It will be interesting to see if the botched launch of Obamacare weighs on spending decisions.”

Read more: http://www.bloomberg.com/news/2013-11-07/consumer-confidence-in-u-s-drops-for-sixth-consecutive-week.html

[DJ13]

1. And thats the reason Christmas displays went up before Halloween

[Purveyor]

2. That and we do have the shortest time span from Thanksgiving to Christmas in the last decade

or there abouts.

[dotymed]

3. Maybe "The Great Recession" (Depression)

is over in D.C. but I can no longer make ends meet. I see it all around me..

[CountAllVotes]

4. No gifts from Grandma and Grandpa this year

They don't have money (what little they have that is) invested in The Casino as it is not a good option for any one that is old and perhaps not in the best of health.

The pittance they might be getting from a savings account at 1% at best won't buy many gifts much less pay many bills either. And so, the trickle down is not trickling down as there is nothing left to "trickle" with.

So, Merry Xmas NOT!