September 10, 2020

Consumer Confidence Rises in September

by Jharonne Martis.

“American consumer confidence continues to climb despite instability on a per month basis. As the unemployment rate improves and people continue to embrace their situations, overall confidence is improving,” notes Chris Jackson of Ipsos. “Despite the coronavirus still being far from under control, millions of Americans unemployed, and civil rights protests sweeping the nation, disrupting many, Americans are finding a way to feel confident again.”

Jharonne Martis, Director of Consumer Research at Refinitiv, said, “As the second quarter earnings season comes to an end, over 70% of retailers beat earnings and revenue expectations. The Refinitiv Retail and Restaurant Earnings Index showed that while overall Q2 growth was anemic it could’ve been a lot worse. Moreover, the latest retail earnings reports suggests that Q3 spending is off to a less poor start with an estimated earnings decline of 31.8%, an improvement from the 43% drop in Q2 earnings.”

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