NEW YORK (9/13/13)--Consumer confidence in the U.S. stabilized last week--even though Americans' views on the economy dimmed--after declining for four consecutive weeks, according to the Bloomberg Consumer Comfort Index (Bloomberg.com and Moody's Economy.com Sept. 12).
The index climbed to -32.1 for the week ended Sept. 8, from -32.3 the previous week.
Although households' assessment of the economy was the lowest since mid-May, another component of the index, which is a gauge of whether this is a good time to make purchases, improved for the first time in the past five weeks, Bloomberg said.
However, the improved view of the buying climate was mostly mitigated by negative views about personal finances, Moody's said.
Americans remain wary of the job creation pace and wage gains, said Joseph Brusuelas, a senior economist at Bloomberg LP in New York. Therefore, they are looking for a long-awaited pickup in growth during the second half of the year.
In the meantime, consumers have taken on a "wait-and-see attitude," he concluded.