That’s the share of Americans who project the economy will worsen, according to the Bloomberg Consumer Comfort Index expectations gauge for October.
That’s the largest such share since the collapse of Lehman Brothers Holdings Inc. in 2008, Bloomberg’s Ben Schenkel reported in this story, which analyzes U.S. consumers’ outlook for the economy.
Americans became much more pessimistic about the economy amid a partial government shutdown and more partisan clashes over extending the nation’s borrowing authority. President Barack Obama early yesterday signed into law a fiscal accord that funds the government through Jan. 15 and extends the debt ceiling until Feb. 7.
The Congress cleared the measure late Oct. 16 by votes of 81-18 in the Senate and 285-144 in the House.
The short-term agreement “may be setting the stage for another round of confrontations early next year,” Schenkel reported.
Yet the agreement provides a welcome respite for U.S. consumers who “are likely to breathe easier during the holiday shopping season,” Bloomberg’s Victoria Stilwell reported.