Economic Sentiment Declines Slightly As Confidence In The U.S. Economy Wanes

Consumer confidence in the economy fell slightly in the past two weeks, according to the HPS-CivicScience Economic Sentiment Index (ESI). Since Tuesday, April 18, consumer confidence has now dropped 0.7 points, from 51.4 to today’s reading of 50.7. The index now sits at its lowest level for 2017 since February, when the index fell to 49.9 on Tuesday, February 7. Of note, confidence in the U.S. economy continued it’s downward decline, setting it apart from other components of the index, which have remained at elevated levels.

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Consumer Confidence Drops Slightly As President Trump Surpasses 100 Days In Office

Consumer confidence declined slightly over the past two weeks, dropping 0.3 points to 51.1, according to the HPS-CivicScience Economic Sentiment Index (ESI). After reaching a 2017 high of 52.9 on Tuesday, March 21, consumer confidence has waned, shifting between 50.8 and 51.4 in the past month. Despite the decline during the most recent reading, consumer confidence remains well above its 2016 average of 47.5.

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Consumers Ready To Spend, But Confidence In The Broader Economy Wanes

Consumer confidence rebounded slightly from its previous decline, increasing 0.6 points from 50.8 to 51.4, according to the HPS-CivicScience Economic Sentiment Index (ESI). The increase helped the ESI recover some of its losses from the previous reading, when the index fell 2.1 points. Consumer confidence in making a major purchase surged 3.1 points to bring the indicator to a 12-month high of 51.5. Despite this increase, consumers’ confidence in the broader U.S. economy dropped for the second straight reading, falling 1.4 points to 47.3 and bringing the indicator to its lowest point since before the 2016 election.

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Consumer Confidence Falls Amidst Failed Efforts To Repeal ACA

Consumer confidence dropped sharply, falling from its 2017 high of 52.9 by 2.1 points to 50.8, according to the HPS-CivicScience Economic Sentiment Index (ESI). The decline comes during Congress and the Trump Administration’s ongoing debate on healthcare reform. The three-day rolling average reveals that the ESI’s average dropped steeply, falling 2.5 points, the day before the scheduled vote to repeal the Affordable Care Act. This is the index’s first decline since the beginning of February, when consumer confidence dropped below 50.0 points for the only time in 2017. The ESI’s February decline coincided with the release of the Trump Administration’s executive order on immigration.

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Consumer Confidences Completes Rebound Hitting New 2017 High

After a brief dip, consumer confidence has risen for three consecutive readings and now stands at a 2017 high of 52.9, according to the HPS-CivicScience Economic Sentiment Index (ESI). The ESI’s previous high for 2017 was 52.8, which it reached on Tuesday, January 24. While in 2016, consumer confidence only rose above 50.0 three times, the ESI has yet to fall below 50.0 in 2017. This reading’s increase helped push the ESI’s 2017 average up to 51.8. Economic sentiment for four of the ESI’s five economic indicators also improved, helping to spur the overall index’s rise.

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Consumers Remain More Confident In 2017 Than In 2016

Consumer confidence remained steady over the past two weeks, improving slightly from 51.2 to 51.5, according to the HPS-CivicScience Economic Sentiment Index (ESI). Despite only a small increase of 0.3 points, consumers have consistently felt more confident in 2017 than in 2016. The ESI’s 2017 average of 51.6 remains more than 4.0 points above its 2016 average of 47.5. Furthermore, economic sentiment among consumers failed to exceed the 50.0 threshold in 2016 until November 29, when consumer confidence reached 51.3. Since that date, the ESI has fallen below 50.0 only one time: Tuesday, February 7, when it dipped to 49.9.

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Consumer Confidence Rebounds But Fails To Recapture Full Losses From Previous Decline

Consumer confidence rebounded from its decline during the previous reading, rising 1.3 points to 51.2, according to the HPS-CivicScience Economic Sentiment Index (ESI). During the ESI’s last reading, consumer confidence dropped significantly, bucking a trend of increases from the end of November 2016 through January 2017. This reading’s improvement helps the ESI regain some of its losses, but the index remains 1.6 points below its 2017 peak of 52.8 on Tuesday, January 24.

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Steep Drop In Consumer Confidence Erases Majority Of Post-Election Gains

Consumer confidence fell nearly 3.0 points to 49.9, its lowest level since November 15, 2016, according to the HPS-CivicScience Economic Sentiment Index (ESI). Confidence in the economy had been increasing steadily since October 2016, rising in six of the previous seven readings. The ESI’s three-day rolling average, which tracks short-term movement during the reading, ended the two-week reading period at 48.5 on Tuesday, February 7, a total of 4.8 points lower than its peak of 53.3 on Friday, January 27.

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Consumer Confidence At New 12-Month High For Second Consecutive Reading

Entering the first week of the new presidential administration, consumer confidence increased slightly, according to the HPS-CivicScience Economic Sentiment Index (ESI), pushing confidence levels to a new 12-month high. While economic sentiment remained fairly stable during the two-week reading, the slight bump of 0.4 points brings the ESI to 52.8, its highest level since January 2015. The ESI’s five indicators remained steady, with only confidence in the labor market changing significantly with a gain of 2.6 points.

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New Year Starts With Consumer Confidence At A High

During the first two weeks of 2017, consumer confidence rebounded from its previous decline to begin the year at a 12-month high, according to the HPS-CivicScience Economic Sentiment Index (ESI). Economic sentiment increased 0.6 points to 52.4, making a full recovery from its only decline in six readings that occurred during the last two weeks of 2016. Consumers’ increasing confidence has pushed the ESI to start the new year 4.9 points higher than its 2016 average of 47.5.

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