Consumer Confidence Continues to Rise
The economic outlook is showing signs of pre-pandemic levels
As COVID-19 restrictions decrease and vaccinations increase, consumer confidence is showing signs of returning to pre-pandemic levels, according to the U.S. Primary Consumer Sentiment Index (PCSI). The June 2021 confidence level comes in at 62.5, nearly 14 points higher than in June 2020 and is just below 62.9 in February 2020 before restrictions were implemented.
In another sign of economic progress, the Investment Index at 56.9 reached the second-highest level since January 2020. The Jobs Index has shown steady growth over the last six months and has gained 16.1 points since December 2020 to 71.1.
“Continued optimism is seen across the national consumer sentiment index and sub‐indices in this month’s Refinitiv/Ipsos Primary Consumer Sentiment scores,” says Chris Jackson, Senior Vice President and lead for the Ipsos Public Polling. “The Jobs Index displays particularly strong growth, and the Expectations Index sets a new all‐time high record. On the other hand, the Investment Index shows slight wavering, indicating possible hesitations around spending and investing amid inflation fears and spiking prices.”