Highest Economic Sentiment Since The Pandemic Declaration
Economic sentiment climbed 1.8 points to 51.4, its highest reading in a year, according to the HPS-CivicScience Economic Sentiment Index (ESI). Over the two week period that marked the passage of the $1.9 trillion American Rescue Plan (ARPA), consumer confidence rose to its highest level since the World Health Organization declared COVID-19 a pandemic on March 11, 2020.
Economic sentiment climbed 1.8 points to 51.4, its highest reading in a year, according to the HPS-CivicScience Economic Sentiment Index (ESI). With the $1.9 trillion American Rescue Plan (ARPA) signed into law, consumers have regained the most confidence they’ve had in the U.S. economy since before the World Health Organization declared COVID-19 a pandemic on March 11, 2020.
– Confidence in the overall U.S. economy rose 1.2 points to a year-long high of 56.6.
– Housing market confidence went up 0.7 points to 50.1.
– Consumer confidence in making a major purchase increased 0.6 points to 44.6, a high for 2021.
The moving average began on March 3 at 50.1 and rose throughout the two-week period, reaching its close, and peak, at 54.0 on March 16.
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The next release of the ESI will be Wednesday, March 31, 2021.
