WASHINGTON — Americans in October were the most pessimistic about the nation’s economic prospects in almost two years as concern mounted that continued political gridlock will hurt the ongoing recovery, according to the monthly Bloomberg Consumer Comfort Index.
The expectations gauge plunged to minus 31, its lowest level since November 2011, from minus 9 in September, a report showed Thursday. The monthly expectations gauge showed 47 percent of respondents felt the economy was going to worsen, up 13 points from September.
And, a weekly measure of current conditions fell to minus 34.1 in the period ended Oct. 13, the weakest since March and the biggest decline since April 2012. The measure had reached an almost five-year high in early August.
Read tomorrow's Arkansas Democrat-Gazette for full details.