https://together.nbcuni.com/n/telemundo/?utm_source=Hispanic_TM&utm_medium=banner&utm_campaign=HispanicAd.com2021Banners
October 19, 2021

Consumer confidence has dropped by 4.2 points over the past seven days to read at 53.6 in this week’s Ipsos-Forbes Advisor U.S. Consumer Confidence Tracker. Sentiment is now exactly on par with the pandemic average and is at its lowest level since February 24, eight months ago.

Views on the post-pandemic economic recovery show new volatility. Just half of U.S. adults surveyed this week agree that the economy will pick up quickly once pandemic restrictions are lifted, reversing last week’s improvement in sentiment around this measure. Purchasing confidence is also unstable, as the percentage of those saying they are more comfortable making major purchases than they were six months ago records a 9-point decrease to 40%.

Across demographic groups, sentiment moves in a universally negative direction. Those experiencing the most significant reversal in outlook since last week include part-time workers (-10.9), people of color (-9), city dwellers (-7.2), and those who are retired (-6.8).

Detailed Findings

1. Scoring at 53.6, the latest Overall Consumer Confidence has slipped by 4.2 points from last week.

  •     The Overall Confidence Index is currently exactly on par with the pandemic average, and 6.5 points below where it stood in early March 2020, prior to the first lockdowns (60.1).

2. The Current Index is down 5.9 points from last week, just below its pandemic and historical average. Meanwhile, the Investment Index has fallen by 5.2 points and is now 1.8 points below the pandemic average.

  •     Expectations slipped a more modest 1.8 points and holds 2.5 points below its pandemic average.

3. The Jobs sub-index has fallen by 4.1 points.

  •     The proportion of Americans who say they are more confident in their job security now compared to 6 months ago is 51%, down 8 points from last week.
  •     The proportion of Americans reporting they, a family member, or a personal acquaintance lost their job in the past six months due to economic conditions is 31%, up 2 points from last week.
  •     In addition, 38% say it’s likely they, a family member, or a personal acquaintance will lose their job in the next six months due to economic conditions, unchanged from last week.

4. The proportion of those who believe that the economy will recover quickly once coronavirus-control restrictions are relaxed fell to exactly half, reversing last week’s increase.

5. However, support for allowing businesses to reopen before the virus is fully contained is sitting still at roughly six in ten. It is reading at 62%, up a slight 1 point from the week prior.

6. Comfort with making major and other purchases is volatile.

  •     40% say they are more comfortable making major household purchases compared to six months ago, down 9 points from last week.

  •     46% say they are more comfortable making other household purchases compared to six months ago, down 6 points from last week.

 

Leave a reply

Image CAPTCHA
Enter the characters shown in the image.