Economic sentiment declined to a record low for the third consecutive reading, amidst persistent inflation concerns and the continuation of Russia’s war against Ukraine. The HPS-CivicScience Economic Sentiment Index (ESI) dropped 0.5 points to 35.8.
Three of the ESI’s five indicators reached new all-time lows this week:
- Confidence in personal finances fell 1.6 points to an all time low of 50.7.
- Confidence in purchasing a new home fell 1.6 points to an all time low of 23.0.
- Confidence in making a major purchase fell 0.4 points to an all time low of 20.9.
