The Bloomberg Consumer Comfort Index fell to -46.9 in the week ended May 8, as rising gas prices are making Americans worried about their personal finances. This was the index’s worst reading since March, Bloomberg said. The comfort index’s range is from -100 to +100.
“Consumers will likely need to observe a steady descent in the cost of fuel before sentiment will see a sustainable increase,” said Joseph Brusuelas, a senior economist at Bloomberg. Once they see higher energy bills “beleaguered consumers” will be reminded on a daily basis of the difficulties endured throughout the financial fallout, Brusuelas said.