by Jharonne Martis.
WASHINGTON, DC – American consumer confidence, as measured by the Thomson Reuters/Ipsos Primary Consumer Sentiment Index, is essentially unchanged in September 2018. This month the PCSI stands at 62.8, a 0.1 point increase from last month.
The sub-indices of the PCSI present somewhat mixed signals. While the Jobs Index shows that American job security has reached a high-point for the index, Current Financial conditions and Expectations are flat while Investment confidence is down.
“The continued economic rally appears to continue encouraging consumer confidence,” reports Chris Jackson, Vice President at survey research firm Ipsos.”Job security, which has traditionally been the bedrock indicator of the PCSI shows very strong levels. However, consumers are not clearly seeing ways for things to get even better limiting the potential for further improvements in confidence.”
Jharonne Martis, Director of Consumer Research at Thomson Reuters, said, “Likewise, the Thomson Reuters Same Store Index is expected to remain unchanged into the third quarter. A 3.0% Same Store Sales reflects healthy consumer spending. The index posted a robust 3.2% SSS growth in the second quarter, and the strength in consumer spending is anticipated to continue into the current quarter.”
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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.