March 11, 2021

Significant Gains in Consumer Confidence in March 2021

by Jharonne Martis.

“American consumer confidence this month displays a significant improvement and represents a new pandemic high for the measure. Moreover, this increase in optimism can be seen across all sub‐indices, most dramatically with the Current and Investment sub‐indices,” Chris Jackson of Ipsos notes. “This positivity comes at a time when the Biden administration moved up the COVID‐19 mass vaccination schedule from July to May 2021. This news, along with dropping COVID‐ 19 cases, could be contributing to this burgeoning optimism.”

Jharonne Martis, Director of Consumer Research at Refinitiv, said, “Retailers and restaurants are reporting Q4 2020 earnings results. Of the 178 companies in the Refinitiv Retail/Restaurant index that have reported Q4 earnings to date, 70% have reported earnings above analyst expectations. Analysts polled by Refinitiv are also raising their Q1 2021 earnings forecasts as another round of stimulus checks will likely boost spending in 2021.”

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