American Consumer Comfort Crashes Most 'Since Lehman'

Despite stocks soaring to record highs, The Bloomberg Consumer Comfort index fell last week to 58.0 from 59.1 a week earlier, and has now plunged 5.4 points in three weeks, the biggest such drop since 2008...

Source: Bloomberg

All three sub-indices - state of the economy, personal financial outlook, and buying climate - dropped in the last week:

  • State of the Economy index worsens to 58.6 from 60.3

  • Personal Finance index fell to 61.9 from 63.3

  • Buying Climate index fell to 53.6 from 53.9

...as the headline completely decoupled from stocks...

Source: Bloomberg

That is the lowest level of consumer confidence since January, despite an incessant surge in stocks this year. Still, we doubt that will stop the president celebrating...

Notably, both Democrats and Republicans have been losing faith recently...

Source: Bloomberg