Consumer Confidence Holds Steady As Confidence In U.S. Housing Market Slips

Consumer confidence remained relatively steady at 52.8 points over the past two weeks, according to the HPS-CivicScience Economic Sentiment Index (ESI). The index rose a total of 0.1 points, increasing from a reading of 52.7 on August 7th.

Consumer confidence in the broader U.S. economy jumped 2.1 points, but this change was offset by a 1.2 point decline in consumer sentiment towards the housing market. The consumer confidence trends reflect the latest economic data, which shows a strong U.S. economy paired with a “soft” housing market that faces tight supplies and rising prices.

Overall, only two of the ESI’s five indicators increased during the two-week reading period. In addition to the increase in consumer confidence towards the broader economy, consumer confidence in personal finances also rose by 0.2 points to 65.9 points. Meanwhile, consumer sentiment towards the labor market moved down from 47.5 points to 47.3 points, a 0.2 point drop. Consumer sentiment towards making a major purchase remained unchanged, staying at 53.2 points – the same reading for the indicator exactly one year ago.

The ESI’s three-day rolling average ended the reading period on a low note of 51.6 points, 2.9 points off its peak of 54.5. On Thursday, August 9th, the moving average reached a peak of 54.5 points after starting out the reading period at 53.3 points on August 8th. On Friday, August 10th, the Turkish lira dropped to a record low amid stalled U.S.-Turkey talks in Washington, which corresponded to start of a steady decline in the moving average. The three-day rolling average continued to drop down, ending the reading period at 51.6 points, 1.7 points lower than its initial reading on August 8th.

The next release of the ESI will be September 4, 2018.

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 (HPS) is an analytical public affairs consulting firm with offices in Washington, D.C. and San Francisco. We integrate substantive analysis with communications and believe a deep understanding of business and economics leads to more effective public engagement and better outcomes for our clients.

For more information, visit Hamilton Place Strategies by clicking here and follow them on Twitter – @HPSInsight.

About CivicScience

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.