Economic sentiment dropped in a two-week span that saw the failures of three U.S. banks, driven by a significant fall in confidence in the overall U.S. economy. The Penta-CivicScience Economic Sentiment Index (ESI) fell 1.3 points to 35.2, its largest fall since mid-October.
Four of the ESI’s five indicators decreased over the past two weeks. Confidence in the overall U.S. economy dropped 2.9 points to 33.0—its largest single-reading decrease since June 2022.
—Confidence in personal finances fell 1.9 points to 53.3.
—Confidence in finding a new job fell 1.1 points to 42.2.
—Confidence in making a major purchase fell 0.7 points to 23.3.
—Confidence in buying a new home rose 0.2 points to 24.2.
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