Finance

Economic Sentiment Increases Slightly, Despite Declining Confidence In Personal Finances

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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 rose slightly over the past two weeks, according to the HPS-CivicScience Economic Sentiment Index (ESI), increasing by 0.2 points. The ESI has mostly risen over the past two months, rising for three of the past four readings increasing 1.3 points to reach 53.8 – its highest level of 2019.

Three out of the ESI’s five indicators increased during the reading. Consumer confidence in the labor market experienced the largest increase, rising 2.4 points to reach 47.5. With Tax Day now in the rearview, economic sentiment toward personal finances improved as well, moving up 1.7 points to hit 64.6. Confidence in the broader U.S. economy also ticked up, increasing from 48.3 to 49.7 points. Meanwhile, economic sentiment toward the housing market dropped by 0.4 points to 51.0, while confidence in making a major purchase remained at 55.0 points.

See the full report here.

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