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:
Consumer confidence remained relatively steady at 52.8 points over the past two weeks, according to the HPS-CivicScience Economic Sentiment Index (ESI). The index rose a total of 0.1 points, increasing from a reading of 52.7 on August 7th.
Consumer confidence in the broader U.S. economy jumped 2.1 points, but this change was offset by a 1.2 point decline in consumer sentiment towards the housing market. The consumer confidence trends reflect the latest economic data, which shows a strong U.S. economy paired with a “soft” housing market that faces tight supplies and rising prices.
Overall, only two of the ESI’s five indicators increased during the two-week reading period. In addition to the increase in consumer confidence towards the broader economy, consumer confidence in personal finances also rose by 0.2 points to 65.9 points. Meanwhile, consumer sentiment towards the labor market moved down from 47.5 points to 47.3 points, a 0.2 point drop. Consumer sentiment towards making a major purchase remained unchanged, staying at 53.2 points – the same reading for the indicator exactly one year ago.
Check out the full reading.