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American consumer confidence is at 52.5 for November, statistically even with October.
That’s according to the Refinitiv/Ipsos Primary Consumer Sentiment Index, which noted that October’s reading of 52.6 was the highest the metric has seen since the pandemic drop-off in April. Despite dropping 1.3 points since last month, the Expectations Index remains the only sub-index at a higher level than it was at this time last year.
All other sub-indices are down by at least 10.4 points compared with November 2019 markings. Compared to three months ago, however, all indices are up by 4.0 points or more
As retailers report third-quarter earnings, the Refinitiv US Retail and Restaurant Q3 blended earnings index is expected to show -13.8% estimate.
“This is an improvement from the previous two quarters,” said Jharonne Martis, director of consumer research, Refinitiv. “As another wave of COVID-19 looms in the U.S., the ‘stay-at-home’ related retailers continue to benefit as consumers’ houses have been converted into offices, gyms and education centers. Those with a solid omnichannel strategy offer shoppers a safe, fast and efficient way of getting their goods and are seeing strong double-digit e-commerce growth.”
