For Nearly The Fifth Straight Month, Consumer Confidence Remains Above 46
Consumer confidence held steady, dropping just 0.1 points to 46.4 over the last two weeks, according to the latest data from the HPS-CivicScience Economic Sentiment Index (ESI). Even with the slight decrease, consumer confidence is 1.1 points higher than it was at this point in 2013, and remains above the 2014 average. An increase in confidence in personal finances helped keep the ESI at 46 or higher for the 10th straight two-week period.
The three-day rolling average reveals that consumer confidence started this week decreasing to a two-week low on July 22nd at 45.3. Since then, the ESI shows a strong increasing trend to 47.5 on July 29th. This is 1.1 points higher than at the beginning of the two-week period.
Four out of the five individual components decreased during this two-week period. Confidence in making a major purchase saw the largest decrease of 1.2 points to 46.1. However, confidence in personal finance rose by 2.0 points to 56.4 and overtook purchasing a new home as the highest component of the index. The housing market is the only component of the ESI in which consumers are less confident than they were at this time in 2013.
The next release of the ESI will be August, 12.
About the Index
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.
For a more detailed overview of the Index and the underlying methodology, please request a white paper.
About Hamilton Place Strategies (HPS)
Hamilton Place Strategies is a policy, advocacy, and communications consulting firm with a focus and expertise at the intersection of government, business, and media.
CivicScience, Inc. provides the leading intelligent polling and real-time consumer insights platform, the InsightStore™. Its proprietary platform powers the world’s opinions and quickly gets that data to the decision makers who care. Every day, CivicScience polls ask millions of people questions related to thousands of topics, while its powerful data science and big data technology analyzes current consumer opinions, discovers trends as they start, and accurately predicts future behaviors and market outcomes. CivicScience polls run on hundreds of premier websites, in addition to its own public polling site at www.civicscience.com. CivicScience’s InsightStore™ is used by leading enterprises in marketing research, advertising, media, financial services, and political polling. For more information, visit CivicScience by clicking here and follow them on Twitter – @CivicScience.