The U.S. Consumer Confidence Dashboard
Morning Consult surveys around 6,000 U.S. consumers every day on their views regarding personal financial conditions and business conditions in the country, providing an unparalleled gauge of consumer sentiment. This dashboard offers a topline look at that data, and will be updated weekly with the latest national findings, and monthly for state-level data. Learn more about Economic Intelligence and sign up to get the latest data first.
Updated: February 8, 2022
Reading this data: Higher numbers indicate greater consumer confidence. 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.
Updated: February 2, 2022
STATE-LEVEL CONSUMER CONFIDENCE ANALYSIS
- The omicron variant weighed heavily on consumer confidence in January as record-high levels of COVID-19 cases negatively impacted Americans across the country. Morning Consult’s Index of Consumer Sentiment (ICS) fell in 43 states last month and rose in just seven, marking the broadest decline since the delta variant drove decreases in 48 states in August 2021.
- New Mexico, West Virginia and Colorado experienced the sharpest declines, with confidence dropping 9.0 percent, 7.1 percent and 6.4 percent, respectively, in January. Like the United States as a whole, each of these states saw significant surges in new COVID-19 cases and related hospitalizations during that time period.
- Confidence has broadly declined in the United States since July 2021, and consumer sentiment is now well below pre-pandemic levels moving into 2022. Even within states with the highest ICS readings relative to before the pandemic — California, Vermont and New York — confidence is now at least 10 percent lower than in January 2020. Moreover, confidence is down more than 20 percent in 40 states.
- However, the omicron-driven surge in cases appears to have peaked at the national level, with cases falling rapidly in many states. Additionally, the decline in confidence due to omicron was less severe than in past waves of COVID-19, despite the record number of new cases. In January, the average state-level decrease in confidence was 2.3 percent, compared to a 15.4 percent decline in March 2020 (initial wave), 4.6 percent in November 2020 (winter 2020-21 wave), and 5.0 percent in August 2021 (delta wave).
"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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Economic Intelligence provides access to the most robust data set on consumer confidence available today, built around 11,000 daily interviews in 15 countries. Along with daily updates to the data set, clients receive access to Morning Consult's team of economists, data scientists, and survey research experts.
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