Consumer confidence rises slightly in June
Consumer confidence increased in June, with consumers feeling more positive about the job market, their household finances and their spending comfort levels.
The June Consumer Confidence Score according to Numerator’s Consumer Sentiment Tracker was 57.1, an increase of 0.3 from May, coinciding with recent figures that showed overall retail sales in June beating estimates.
In June, 40% of consumers said it’s very or somewhat easy to find employment in the current job market, in line with the previous month. Meanwhile, 27% think it’s somewhat or very difficult.
Roughly half (49%) of consumers say their household’s financial situation is currently good or very good, up slightly from May. Only 16% said their finances are poor or very poor, in line with May.
Forty-one percent of consumers are very or somewhat comfortable spending money on discretionary purchases right now, while 31% are somewhat or very uncomfortable. Both figures are consistent with May’s.
Other insights from the June tracker include the following:
- 41% of consumers are very or somewhat comfortable spending money on discretionary purchases right now.
- Consumers with spare cash say they’re putting it in savings (36.2%) and paying down debts (33.3%).
- 13.2% of consumers say they do not have any spare cash (-2.9 points vs. May).
- With the warmer weather, consumers are looking to get out of the house or fix up the house, while 30.1% plan to use spare cash to travel or go on vacation, and 20.8% plan to make home repairs / improvements.
- To save money, consumers are using coupons / discount codes (42.8%), shopping for items on sale (42.6%), and cooking at home (40.9%).
[READ MORE: Survey: Nearly 70% of back-to-school shoppers expect to pay more this year]
Thinking about one year from now, Numerator found that 25% of all respondents think their finances will be better than they are now. Just over half (53%) think they’ll be the same, while 23% think they’ll be worse. Black consumers and Gen Z consumers are the most optimistic about their financial situations, while White consumers and Baby Boomers are the least.
Numerator’s Consumer Sentiment Tracker collects over 6,000 responses per month, and their abbreviated nature ensures high participation rates and fresh, reliable data each month.
