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September 15, 2023

Consumer Confidence Shows Stability Following Months of Volatility

by Jharonne Martis.

“September’s LSEG/Ipsos Primary Consumer Sentiment Index finds that overall American consumer confidence is stable this month, following five months of alternating gains and losses,” Johnny Sawyer of Ipsos states. “For the third consecutive month, consumer confidence is significantly higher than it was a year ago. Despite overall stability of consumer confidence this month, the Jobs’ sub-index has fallen to its second lowest point of the year, primarily due to a drop in Americans’ confidence in their job security. This decline comes amid an unexpected rise in the unemployment rate in August.”

Jharonne Martis, Director of Consumer Research at LSEG, said, “The LSEG Retail & Restaurant Earnings Index just registered a robust 20.5% growth rate for Q2 2023. However, the Index is expected to drop to a 7.8% growth rate in Q3 2023 as consumers worry about higher prices and rising unemployment.”

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