Report: Consumer confidence weak

Washington, D.C. -- A Thursday report by Bloomberg said that consumer confidence last week capped the worst quarterly performance in more than two years, when the U.S. economy was still in a recession.

The Bloomberg Consumer Comfort Index rose to minus 50.2 in the week ended Oct. 2, from the prior period’s minus 53 that was the second-lowest level on record. The gauge averaged minus 48.4 from July through September, the third-worst quarterly reading of all time and the weakest since minus 49.9 in the first three months of 2009.

According to the report, 92% of those surveyed had a negative opinion of the economy.

Recommended stories

Login or Register to post a comment.