Americans are feeling a bit more optimistic about their finances, but overall consumer confidence continues to waver nearly six months into the pandemic response.
The Ipsos U.S. Consumer Confidence Weekly Tracker—conducted Aug. 18 and 19— found that overall consumer confidence slipped 1.5 points this week to 48.7. Still, the confidence level is in line with the average over the past five months. Ipsos, which surveyed 948 respondents, provided the findings exclusively to Forbes Advisor.
Consumer confidence dropped in several key areas compared to the prior week: purchasing and investing, job security and respondents’ current financial situation. Americans’ confidence in their current financial situation was just 39.6, down two points from the prior week and down almost 14 points since the beginning of the pandemic. The future outlook for personal financial situations and employment increased by about half a point to 63.3.
Ipsos found that men, higher earners and Republican voters were the most confident. Women, lower-income earners and Democratic voters were the least confident.
The market indices should rise 3% on the news tomorrow
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