July 20, 2021

Consumer Confidence in July 2021 Drops for First Time in 2021

by Jharonne Martis.

“With continuing fears of inflation and rising prices, this month’s Refinitiv/Ipsos Primary Consumer Sentiment Index drops for the first time this year. This slight drop, as well as declines in some of the sub‐indices, reflect consumers pausing to assess the changing economic situation,” Chris Jackson of Ipsos states. “The Jobs Index, however, continues to show growth for the seventh month in a row as the economy continues to reopen and people go back to work.”

Jharonne Martis, Director of Consumer Research at Refinitiv, said, “Pressured with growing inflation and a surge in Delta variant cases, consumers are spending most of their money on Household Durables in the second quarter. Refinitiv is looking at an estimated 73.5% Q2 growth rate for this sector, suggesting consumers continue to invest in the stay‐at-home experience.”

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