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 bounced back over the past two weeks, according to the HPS-CivicScience Economic Sentiment Index (ESI). Following a 0.5-point drop between the beginning of April and Tax Day, the ESI increased from 52.5 to 53.6 points over the past two weeks, surpassing its previous 2019 high of 53.0.
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.