Consumer Confidence Saw Across-The-Board Gains Over The Last Two Weeks
Consumer confidence increased over the last two weeks by 0.8 points from 48.3 to 49.1, according to the most recent data from the HPS-CivicScience Economic Sentiment Index (ESI). The index now stands just below the 2015 average of 49.8. The overall increase was driven by gains in all five components of the index, especially in regard to confidence in making major purchases.
The index’s overall increase was driven primarily by a partial recovery in confidence in making major purchases, which recently experienced its biggest drop in 12 months. This gain was also boosted by large increases in confidence in the labor market and in the U.S. economy overall. Confidence in the housing market and in personal finances also experienced modest gains.
The three-day moving average increased steadily for most of the two week period, peaking at 51.0 on July 24 before decreasing almost back to its original starting level of 47.8.
The next release of the ESI will be August 11.
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.
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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.