Consumer confidence declined over the past two weeks for the first time in 2018, according to the HPS-CivicScience Economic Sentiment Index (ESI). The index fell a total of 1.3 points, from 55.6 to 54.3, since the previous reading on February 6. This drop marks the first time the ESI has declined since the December 12 reading toward the end of 2017 and matches the index’s 2018 low point, which was set during the first reading of the year on January 9.
For the third-consecutive reading, consumer confidence reached a record high, rising 1.2 points to 55.6, according to the HPS-CivicScience Economic Sentiment Index (ESI). Economic sentiment has reached new heights with every reading in 2018, as the overall ESI has increased a total of 2.5 points, from 53.1 on December 26, 2017, the last reading for 2017, to 55.6 on Tuesday, February 6, 2018.
In addition to record-setting confidence in the overall ESI, two of the five ESI indicators–confidence in the broader U.S. economy and in personal finances–also achieved record levels during the most recent reading.
Consumer confidence reached a record high for the second consecutive reading despite the brief federal government shutdown, rising 0.1 points to 54.4, according to the HPS-CivicScience Economic Sentiment Index (ESI). A slight uptick in the reading pushed the ESI to its highest level since the index’s creation more than five years ago.
Rising confidence in the broader U.S. economy fueled the overall index’s ascent, as the indicator improved by 2.4 points to 53.8. With this increase, confidence in the broader U.S. economy surpasses confidence in making a major purchase for the first time since April 4, 2017.
Consumer confidence has reached its highest level in at least five years, as the HPS-CivicScience Economic Sentiment Index (ESI) broke its all-time high today by surpassing all previous readings since it came into existence in 2013. The index rose 1.2 points to 54.3 over the past two weeks, building on the gains experienced at the end of 2017. Today’s record breaking reading surpassed the ESI’s previous all-time high of 53.3, achieved on January 13, 2015, by a full point. The unprecedented level of consumer confidence comes as American businesses and consumers prepare to operate under a new tax code for the first time in more than 30 years thanks to the passage of the Tax Cuts and Jobs Act.
In its final reading of 2017, the HPS-CivicScience Economic Sentiment Index (ESI) jumped 1.8 points to reach 53.1, its second highest level achieved during the year. The increase in consumer confidence erases almost all of the losses the ESI experienced in each of the two readings since the index reached its peak of 53.2 on November 14. The ESI closes 2017 with a year-long average of 51.59, more than four points higher than its 2016 average of 47.53, indicating a significant and sustained improvement in economic sentiment among consumers.
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.
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.
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.
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.
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.