June 10, 2022

Consumer Confidence Falls Across Three of Four Sub‐Indices

by Jharonne Martis.

“This month’s Refinitiv/Ipsos Primary Consumer Sentiment Index slides back to where it was in April, continuing the trend of volatility observed throughout 2022,” James Diamond of Ipsos states. “While overall sentiment is down, perceptions of the job market are up this month. This comes as the Bureau of Labor Statistics reported better than expected job figures for May.”

Jharonne Martis, Director of Consumer Research at Refinitiv, said, “The current U.S. job market is firing at all cylinders in the U.S. This continues to propel consumers to open up their wallets. The Refinitiv Retail/Restaurant Index is looking at a ‐17.1% blended earnings growth estimate for Q1 2022. This is expected to improve somewhat to a ‐6.1% estimated growth rate in Q2 2022.”

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