Ipsos: Consumer confidence holds steady

Consumers are not getting any more confident in the economy, but not getting significantly less confident, either.

The latest edition of the Ipsos Confidence Index, based on an online survey of 923 consumers conducted Sept. 22-23, finds the overall metric slightly declining 0.5 points to 53.9 from 54.4. The previous week’s score had been the highest recorded since the onset of the COVID-19 epidemic in March.

However, consumers are expressing optimism about the future. The Expectations index is up 0.5 points to 66.9, which is actually three points higher than its pre-pandemic level. The percentage of respondents saying the economy will recover quickly as restrictions to control the coronavirus are relaxed substantially rose to 56% from 51% a week earlier.

There is still some negative consumer sentiment. Forty-three percent of respondents report they, a family member, or a personal acquaintance lost their job in the past six months due to economic conditions, up from 42% the previous week.