January 18, 2021

Consumer Confidence increases with the start of 2021

by Jharonne Martis.

“Even as the United States reaches new highs in COVID‐19 deaths, American consumer confidence is up nearly 3 points as we enter into 2021. This could be attributed to greater access to COVID‐19 vaccinations, along with the approval of another round of stimulus checks paired with the arrival of a new year,” Chris Jackson of Ipsos observes. “This improvement across both the national and sub‐indices brings sentiments up slightly, but they have not yet overcome the decline in December 2020 and are below October and November readings.”

Jharonne Martis, Director of Consumer Research at Refinitiv, said, “Likewise, the Refinitiv earnings forecast suggests Q1 2021 will mark the first positive quarter in over a year, as retailers will be facing much easier year‐over‐year comparisons. Still, among the consistent strongest sectors, Household Durables, Internet & Catalog Retail, and Leisure products are expected to see positive earnings growth in Q1 2021 ‐‐ and perhaps even receive a boost from stimulus check spending.”

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