Highest Economic Sentiment Since The Pandemic Declaration
Economic sentiment climbed 1.8 points to 51.4, its highest reading in a year, according to the HPS-CivicScience Economic Sentiment Index (ESI). Over the two week period that marked the passage of the $1.9 trillion American Rescue Plan (ARPA), consumer confidence rose to its highest level since the World Health Organization declared COVID-19 a pandemic on March 11, 2020.
Economic sentiment climbed 1.8 points to 51.4, its highest reading in a year, according to the HPS-CivicScience Economic Sentiment Index (ESI). With the $1.9 trillion American Rescue Plan (ARPA) signed into law, consumers have regained the most confidence they’ve had in the U.S. economy since before the World Health Organization declared COVID-19 a pandemic on March 11, 2020.
– Confidence in the overall U.S. economy rose 1.2 points to a year-long high of 56.6.
– Housing market confidence went up 0.7 points to 50.1.
– Consumer confidence in making a major purchase increased 0.6 points to 44.6, a high for 2021.
The moving average began on March 3 at 50.1 and rose throughout the two-week period, reaching its close, and peak, at 54.0 on March 16.
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.
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.