Consumer Confidence Jumps To Highest Level Of 2016
Consumer confidence has climbed to its highest point thus far in 2016, according to the HPS-CivicScience Economic Sentiment Index (ESI). The ESI rose more than a full point in the past two weeks, increasing from 47.0 to 48.3, and is now even with the final reading of 2015. This marks only the second time the ESI has increased in five readings in 2016, but the index still lags 1.3 points behind the March 10, 2015, reading from a year ago.
Four out of the five ESI indicators rose this reading, with confidence in the labor market leading the way, rising 3.3 points to 39.7. Confidence in personal finances maintained its top spot among the five indicators, rising 2.0 points to 59.3. Consumer confidence in the housing market and in making a major purchase both increased by less than one point this reading to 52.7 and 48.5, respectively. Confidence in the broader U.S. economy, after a sharp rise in the last reading, was the only indicator to decline this time around, dropping slightly from 41.6 to 41.3.
The three-day rolling average experienced a strong week from Monday, February 29, through Sunday, March 6, staying between 48.1 and its peak of 49.3 throughout this time frame. Since then, however, the moving average has trended downward, reaching its low-point of 46.8 on March 8, the last day of the reading.
The next release of the ESI will be March 22.
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.