Market researcher Numerator reported consumer confidence was up again in March, as indicated by increased comfort in the job market, non-essential spending and household finances.
March was up 1.6 points from February’s score to reach 57.3, which is based on an average of how consumers felt about the job market, their household finances, and their spending comfort levels.
As part of its research, Numerator noted:
- 40% of consumers said it’s very or somewhat easy to find employment in the current job market.
- 49% of consumers said their household’s financial situation is currently good or very good, up two points.
- 41% of consumers were very or somewhat comfortable spending money on discretionary purchases, up three points.
- 19% of consumers said they do not have any spare cash right now, and those left with spare cash said they’re putting it in savings, at 36.3%, and paying down debts, at 31.9%.
- 28.8% of consumers said they plan to use spare cash to travel or go on vacation, up 1.5 points, and 21.9% plan to make home repairs/improvements, up 1.6% points.
- 45% of consumers are using coupons/discount codes, 44% are shopping for items on sale and 44% are cooking at home to save money.
The March Financial Outlook Score was 50.9, down one point. Consumers feel neutral about their household finances, looking ahead about one year from now. Some 24% think their finances will be better than they are now, 53% think they’ll be the same and 23% think they’ll be worse. Black and Gen Z consumers are the most optimistic about their financial situations, while White and Boomers-plus consumers are the least optimistic, Numerator noted.
