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:
After a dip in February, consumer confidence recovered slightly over the past two weeks, according to the HPS-CivicScience Economic Sentiment Index (ESI). The index rose a total of 0.8 points, rising from a reading of 52.9 on March 6th to 53.7 on March 20th. Consumer confidence remains slightly above 2017 levels, as this week’s reading exceeded last year’s high-point of 53.2 by 0.5 points.
The recovery in economic sentiment was driven by a 2.1 point increase in consumer confidence in the broader economy, the largest move by any subcategory during the reading period.
Four out of the ESI’s five indicators rose during the two-week period. As stated above, confidence in the broader U.S. economy experienced the largest change of any indicator during the reading period, up from 49.6 to 51.7. Consumer sentiment toward making a major purchase also rose by 1.6 points to 54.4, its highest reading for 2018. Additionally, confidence in the U.S. labor market rose to 48.3.
Consumer confidence in personal finances declined for the third consecutive reading and was the only indicator to fall, dropping 1.2 points to 64.5 its lowest reading since July 11, 2017.
Check out the full reading.