MORNING CONSULT ECONOMIC INTELLIGENCE
Momentum in the Recovery in Consumer Confidence Slowed in Mid-September
Updated: September 16, 2020
Welcome to Morning Consult’s U.S. consumer confidence dashboard, powered by Economic Intelligence. Every week, this page will update with the latest national data and insights from our economic team. Additionally, state-level data and findings will be updated once a month.
Morning Consult surveys around 6,000 U.S. consumers every day on their views regarding current and future personal financial conditions and business conditions in the country as a whole. The results from those survey interviews are inputted into the Morning Consult Index of Consumer Sentiment (ICS), which rises as consumer confidence increases. In addition to the ICS, our overall measurement for consumer confidence, Morning Consult uses the responses to track consumer sentiment regarding just the current economic conditions (the ICC) and just expectations for future conditions (the ICE).
This is just a small sliver of the economic data we track around the globe every day. Learn more about Economic Intelligence.
This week's results are based on around 40,000 survey interviews conducted September 9-15, 2020
WEEK AT A GLANCE
Consumer confidence rose slightly this week, but the gain represents the lowest weekly uptick since early August. While there are no signs yet of an outright contraction in confidence, a slowdown in the rate of increase in and of itself threatens to derail whatever momentum the economy has.
Morning Consult economist John Leer pulled out three key insights from the data this week:
This week, consumers’ expectations for the future held steady, as did evaluations of current conditions.
Reading this data: In order to gauge consumer sentiment, Morning Consult asks five questions relating to personal finances and business conditions in the country as a whole. The results from those five questions are then inputted into these three indices: The ICS is the overall measurement based on the results of all five questions; the ICC reflects consumers’ views of their current personal financial conditions and of current buying conditions for large household goods, and the ICE measures consumers’ expectations of their future personal financial conditions and business conditions in the country as a whole.
Since the onset of the coronavirus pandemic, consumer confidence has shifted dramatically in all 50 states. However, the precise magnitude and nature of those shifts vary in important ways. This map tracks state-by-state consumer sentiment since the beginning of the year, and it will be updated once a month to reflect the latest data.
Updated: September 2, 2020
"THIS IS THE FUTURE"
Moody’s Analytics Chief Economist Mark Zandi, on Morning Consult Economic Intelligence’s Global Consumer Confidence tracking
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