Consumer Confidence Dips Slightly As Confidence In Personal Finances Drops
Consumer confidence decreased slightly over the past two weeks, according to the HPS-CivicScience Economic Sentiment Index (ESI). Though the ESI dropped 0.5 points down to 52.5 points during the beginning of April, consumer confidence remains just under its 2019 high of 53.0 back in mid-March.
Three out of the ESI’s five indicators dropped during the reading. Consumer confidence in personal finances experienced the largest drop, falling by 2.2 points to a level of 62.9. Economic sentiment toward making a major purchase and the labor market fell as well, with both moving down by 0.3 points to hit 55.0 and 45.1 points, respectively. Meanwhile, consumer confidence in the housing market increased from 51.0 to 51.4 points, while confidence in the broader U.S. economy rose by a mere 0.1 points.
Following a tumultuous reading period, the three-day rolling average ended the reading period on a high note. The moving average began at 50.7 on April 3 before dropping to a low of 50.2 on April 5. The rolling average then reversed course, rising to peak at 54.3 on April 11 before closing out the reading period at 53.9.
About the Index
The HPS-CivicScience Economic Sentiment Index (“ESI”) is a “living” index that measures U.S. adults’ expectations for the economy going forward, as well as their feelings about current conditions for major purchases. The primary goal of the Index is to accurately measure movements in overall national economic sentiment and to provide a more sophisticated alternative to existing economic sentiment indices. Unlike other prominent indices that release consumer sentiment estimates infrequently, the HPS-CivicScience Index is updated in real time as responses are collected continuously every hour, every day. Large-scale cross-tabulation of survey responses and consumer attributes enable more granular analyses than are currently possible through prevailing measures. For a more detailed overview of the Index and the underlying methodology, please request a white paper.
About Hamilton Place Strategies (HPS)
Hamilton Place Strategies (HPS) is an analytical public affairs consulting firm with offices in Washington, D.C. and San Francisco. We integrate substantive analysis with communications and believe a deep understanding of business and economics leads to more effective public engagement and better outcomes for our clients. For more information, follow us on Twitter – @HPSInsight.
CivicScience, Inc. provides the leading intelligent polling and real-time consumer insights platform, the InsightStore™. Its proprietary platform powers the world’s opinions and quickly gets that data to the decision makers who care. Every day, CivicScience polls ask millions of people questions related to thousands of topics, while its powerful data science and big data technology analyzes current consumer opinions, discovers trends as they start, and accurately predicts future behaviors and market outcomes. CivicScience polls run on hundreds of premier websites, in addition to its own public polling site at www.civicscience.com. CivicScience’s InsightStore™ is used by leading enterprises in marketing research, advertising, media, financial services, and political polling. For more information, visit CivicScience by clicking here and follow them on Twitter – @CivicScience.