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May 2021 Conference Board Consumer Confidence Little Changed
The latest
Conference Board Consumer Confidence Index s headline number was little changed in May. The Index now stands at 117.2 (1985=100), down marginally from 117.5 in April. A quote from the Conference Board:
. consumers short-term optimism retreated, prompted by expectations of decelerating growth and softening labor market conditions in the months ahead .
Analyst Opinion of Conference Board Consumer Confidence
Consumer confidence had been steady for the previous two years - but the coronavirus killed the upswing. Consumer confidence during the pandemic was as low as seen in 2014 - but now has improved to nearly pre-pandemic levels.
Preliminary May 2021 Michigan Consumer Sentiment Significantly Declined
The preliminary University of Michigan Consumer Sentiment for May came in at 82.8, down from April s 88.3, down from March s 84.9, but up from February s 76.8.
The Econoday consensus range was 90.0 to 94.0 (consensus 90.3)
Surveys of Consumers chief economist, Richard Curtin, makes the following comments:
Consumer confidence in early May tumbled due to higher inflation the highest expected year-ahead inflation rate as well as the highest long term inflation rate in the past decade. Rising inflation also meant that real income expectations were the weakest in five years. The average of net price mentions for buying conditions for homes, vehicles, and household durables were more negative than any time since the end of the last inflationary era in 1980 (see the chart). Importantly, consumer spending will still advance despite higher prices due to pent-up demand and record saving balances. This combination of pe
Written by Steven HansenThe advance estimate for the first-quarter 2020 Real Gross Domestic Product (GDP) is a positive 6.4 %. This growth is an improvement from the previous quarter s growth of 4.3 % if one looks at quarter-over-quarter headline growth. The year-over-year rate of growth also significantly improved and is now in expansion.
The latest
Conference Board Consumer Confidence Index s headline number improved again in April. The Index now stands at 121.7 (1985=100), up from 109.0 in March. A quote from the Conference Board:
. Consumers assessment of current conditions improved significantly in April, suggesting the economic recovery strengthened further in early Q2 .
Analyst Opinion of Conference Board Consumer Confidence
Consumer confidence had been steady for the previous two years - but the coronavirus killed the upswing. Consumer confidence during the pandemic was as low as seen in 2014 - but now has improved to nearly pre-pandemic levels.
The consensus range from Econoday was 108.0 to 115.0 (consensus 112.0). This month s index is based on data collected through 16 April 2021.