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August 9, 2018

US Consumer Confidence Shows Continued Strength

by Jharonne Martis.

This August, American consumer confidence, as measured by the Thomson Reuters/Ipsos Primary Consumer Sentiment Index, ticked up by 0.9 points to 62.7. All four sub-indices considered in the Primary Index also saw an increase this month. The Investment Index saw the greatest increase, up 1.5 points. The Current Index saw a similar increase of 1.1 points.

“This month’s consumer confidence measurement is the first since tariffs took effect on China as of July 6th,” reported Chris Jackson, VP at survey research firm Ipsos. “We’ve seen slight increases across the board in our indices so it appears consumers are relatively unfazed in their optimism. As we continue forward, we’ll want to track how extreme the change in optimism or pessimism changes month to month. Since June’s slip, we’ve now seen two consecutive months where optimism has gone up at an increasingly smaller rate.”

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Jharonne Martis, Director of Consumer Research at Thomson Reuters, said, “Retailers are getting ready to report second quarter earnings, and are more upbeat than last year. There are less negative EPS and Revenue guidance for Q2 2018 vs. Q2 2017. And, more positive EPS and Revenue guidance for Q2 2018, suggesting the strength of consumer spending is well positioned going into the second half of the year.”

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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.

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