Consumer confidence falls to a four-month low
Consumer confidence fell for the first time in four weeks as citizens' view of the economy deteriorated to its lowest point since May. Per Businessweek:
The Bloomberg Consumer Comfort Index fell in the week ended Sept. 29 to minus 29.4 from minus 28.1. A measure of attitudes about the economy slumped as lawmakers failed to resolve their differences over the nation’s budget, culminating this week in a shutdown of the government that risks slowing the expansion.
“Political tensions that led to the current government shutdown, and the coming policy fight over the debt ceiling, are likely behind the decline in consumer comfort,” said Joseph Brusuelas, a senior economist at Bloomberg LP in New York. A prolonged fight over the budget “carries significant risk to overall consumer and business sentiment.”