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.
Consumer confidence increased slightly by 0.4 points to 51.6 during the past two weeks, according to the HPS-CivicScience Economic Sentiment Index (ESI). The rise in confidence continues the ESI’s recent trend of modest improvement, as the index has improved 1.1 points since the June 27 reading. Consumers continue to feel more confident in 2017 than in 2016, with the 2017 ESI average of 51.3 hovering nearly 4.0 points above its 2016 average. The increase in consumer confidence was largely driven by improved confidence in the U.S. labor market and in personal finances, as these indicators rose 1.6 points and 1.5 points to 44.3 and 66.1, respectively.