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:
Following a short bump in economic sentiment, consumer confidence declined by 0.5 points over the past two weeks to reach 53.1 points, according to the HPS-CivicScience Economic Sentiment Index (ESI). While the ESI remains 2.5 points off 2018 highs, the index remains in line with 2017’s high-point of 53.2, a 0.1 point difference.
Four out of the ESI’s five indicators fell during the two-week reading period, led by labor market confidence which dropped 1.6 points from 48.3 to 46.7. Consumer sentiment towards making a major purchase also fell from 54.4 to 53.3, a decline of 1.1 points marking its lowest reading since March 6th. Confidence in the broader economy hit its second lowest level in 2018 of 50.7, while economic sentiment towards the U.S. housing market remained steady at a reading of 49.3.
Consumer confidence in personal finances was the only indicator to rise, recovering for the first time in three reading periods. Confidence in personal finances rose from 64.5 to 65.4, an increase of 0.9 points.
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