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.
Excerpt From the Latest Reading:
Confidence in the U.S. economy since May 1st surged by a total of 5.3 points, following a 1.6 point increase over the past two weeks. Overall, consumer confidence during the month of May increased by only 0.6 points due to a decline in economic sentiment towards personal finances and purchasing a home. The past two weeks continued trends from early May, with the overall index up 0.1 points, moving up from a reading of 53.3 points on May 15th to 53.4 points on May 29th.
Three of the ESI’s five indicators increased during the two-week reading period. Confidence in the broader economy jumped 1.6 points, from 51.1 points to 52.7 points. Consumer sentiment towards making a major purchase rose from 52.9 points to 53.5 points, a 0.6 point increase. At the same time, economic sentiment towards the U.S. housing market increased slightly from 48.4 points to 48.8 points.
Meanwhile, confidence in the U.S. labor market dropped by 1.2 points, moving down 1.2 points to a reading of 47.2. Economic sentiment towards personal finances also declined, dropping from 65.6 points to 65.0 points.
Check out the full reading.