Consumer Confidence Slides To Two-Month Low

Consumer confidence dropped 1.6 points to 51.3, its lowest level since falling to 50.7 on October 3, 2017, according to the HPS-CivicScience Economic Sentiment Index (ESI). This is the ESI’s second consecutive decline after dropping 0.3 points — from 53.2 to 52.9 — during the previous reading. The decline had little impact on the ESI’s 2017 average, which remains at 51.5, four points above its 2016 average of 47.5.

The index’s overall decline was driven by falling confidence across all five of the ESI’s indicators. This is the first time since April 4, 2017 that all five indicators declined during the same reading.

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Consumer Confidence Dips Slightly As The Holiday Season Arrives

Following a consumer-oriented weekend bookended by Black Friday and Cyber Monday, U.S. consumer confidence dipped 0.3 points below its record-tying high of 53.2 from the previous reading, according to the HPS-CivicScience Economic Sentiment Index (ESI). This is the first decline in economic sentiment since October 3, when the ESI fell 0.1 points from the previous reading. Despite the decline, economic sentiment ties its third-highest level of the year at 52.9.

Overall, consumers have felt more confident during 2017 than 2016 with the ESI’s 2017 average reaching 51.5, four full points above its 2016 average of 47.5.

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Consumer Confidence Reaches 34-Month High

Consumer confidence continued to improve for the fourth consecutive reading, rising 0.5 points to 53.2, a 34-month high, according to the HPS-CivicScience Economic Sentiment Index (ESI). This reading is also the second-highest reading in the history of the ESI, just 0.1 points lower than the record of 53.3 set on January 13, 2015. The current reading’s increase continues a run that has seen the ESI jump 2.5 points since October 3, 2017. Recent improvements in sentiment have bumped the ESI’s 2017 average to 51.5, now four full points higher than the 2016 average of 47.5.

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Consumer Confidence Improves To Best Level Since March 2017

Consumer confidence increased for the second consecutive reading, rising 0.9 points from 51.8 to 52.7, according to the HPS-CivicScience Economic Sentiment Index (ESI). With this increase, consumer confidence reached its highest level since March 21, 2017, when confidence peaked at 53.0. Additionally, the ESI has changed its recent pattern of minimal movements, moving by more than 0.5 points for the second consecutive reading and for the second time since April 2017.

Recent improvements in consumer confidence have also helped the ESI’s 2017 average reach 51.4, nearly 4.0 points above the 2016 average of 47.5.

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Economic Sentiment Sees Largest Movement Since April, Improves 1.1 Points

Economic sentiment improved 1.1 points, rising from 50.7 to 51.8 during the past two weeks, according to the HPS-CivicScience Economic Sentiment Index (ESI). This increase marks the largest movement during the two-week reading since April 4, 2017 when the index fell 2.2 points. Recently, the ESI has remained fairly stable, and the 1.1 point movement marks the first reading since August 8, 2017 that the ESI has changed by greater than 0.5 points. Additionally, the increase ends the ESI’s streak of four consecutive declines.

The 1.1 point improvement helped push the ESI above its 2017 average of 51.3 for the first time since August 22, 2017. Improving economic sentiment toward three of the five ESI indicators drove the overall index’s largest increase since March 21, 2017.

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Consumer Confidence Continues Slide, Drops For Fourth Consecutive Reading

Consumer confidence in the economy declined for the fourth straight reading, falling 0.1 point to 50.7 over the past two weeks, according to the HPS-CivicScience Economic Sentiment Index (ESI). While the declines during the last four readings have been comparatively small, this is the longest streak of consecutive declines the ESI has experienced since March 2015. But even with this recent trend, the ESI has maintained a 2017 average of 51.3, nearly 4.0 points higher than its 2016 average of 47.5.

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Consumer Confidence Continues Trend Of Minor Movements, Declines Just 0.1 Points

Consumer confidence declined 0.1 points to 50.8 during the past two weeks, according to the HPS-CivicScience Economic Sentiment Index (ESI). This slight decline continues the ESI’s summer trend of minor movements as the index never moved more than 1.0 point between readings from May to September.

The index began the summer with a reading of 50.8 on May 30 and maintained an average of 51.2 through the current reading. Including this week’s reading, the ESI’s summer average was slightly below the ESI’s 2017 average of 51.4. Over the course of the summer, consumer confidence fell to a low of 50.4 on June 27 and peaked at 52.1 on August 8.

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Consumer Confidence In Making A Major Purchase Plummets As Summer Draws To A Close

Despite a more than 4.0 point decline in consumer confidence in making a major purchase, overall confidence among consumers fell just 1.0 point to 50.9 during the past two weeks, according to the HPS-CivicScience Economic Sentiment Index (ESI).

The 4.2 point decline in economic sentiment toward making a major purchase dropped the indicator to 49.1, its lowest level since April 2017. This drop in sentiment, coupled with rising consumer confidence in the housing market—the only indicator to rise during the reading—means consumers are less confident in making a major purchase than they are in the housing market for the first time since May 2017. Economic sentiment toward the housing market improved 1.0 point to 49.5 during the reading.

Consumer confidence fell across the other three ESI indicators, with confidence in personal finances declining the most with a 0.7 point drop, bringing the indicator to 65.6. Even with this decline, consumers continue to feel most confident in their personal finances. Confidence in the broader US economy and the labor market also fell, with each decreasing 0.5 points to 46.5 and 43.9, respectively.

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Consumer Confidence Remains Largely Unchanged Despite Tumultuous News Cycle

Consumer confidence decreased slightly over the past two weeks, according to the HPS-CivicScience Economic Sentiment Index (ESI). The index fell 0.1 points from 52.0 to 51.9. The decline comes amidst the violence in Charlottesville, VA, on Saturday, August 12. In the aftermath of the clashes and President Trump’s multiple statements in response, the second week of the reading featured the disbanding of two of the president’s CEO advisory councils, as well as the departure of chief strategist Stephen Bannon. Despite the political turbulence, economic sentiment among consumers remained largely unchanged since the last reading on August 8.

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Consumers Feeling More Confident As Congress Adjourns For Recess

Consumer confidence improved 0.4 points to 52.0 during the past two weeks to reach its highest point since March 2017, according to the HPS-CivicScience Economic Sentiment Index (ESI). Of note, consumer confidence in making a major purchase hit a 12-month high after a 1.6 point increase. Consumer confidence has slowly improved throughout the summer, increasing 1.4 points over the course of four consecutive readings of increases. With these improvements, the ESI is now 0.6 points above its 2017 average of 51.4.

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