by Jharonne Martis.
WASHINGTON, DC – American consumer confidence as measured by the Thomson Reuters/Ipsos Primary Consumer Sentiment Index is flat going into November 2017, currently standing at 60.5 from 60.0 last month. While this stands above the consumer sentiment from this time last year, the hoped-for prolonged rally that seemed in the offer through the first half of 2017 has not continued and confidence has mostly stagnated since June
Jharonne Martis, Director of Consumer Research at Thomson Reuters, said, “The negative impact in confidence is also reflected in consumer spending. Retailers are reporting third quarter earnings, and are already warning us about the remainder of the year. A considerable number of negative guidance is coming in for both earnings and revenue. As a result, analysts are lowering their Q4 earnings outlook for several companies.
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The Thomson Reuters/Ipsos US Primary Consumer Sentiment Index (PCSI), ongoing since 2010, is a monthly national survey of consumer attitudes on the current and future state of local economies, personal finance situations, savings and confidence to make large investments. The Index is composed of four sub-indices: Current Conditions Index; Expectations Index; Investment Index; and, Jobs Index.