Consumer confidence held fairly steady in May, according to a study from Numerator that scored positive confidence sentiment at 56.8, down 0.1% from reported April level.
The Numerator consumer confidence figure is based on consumer comfort levels regarding the job market and household finances, as well as with spending, the market researcher indicated, with 50 the dividing line between positive and negative sentiments.
In looking at particular consumer concerns in the current economy, Numerator noted:
- 40% of consumers said it’s very or somewhat easy to find employment in the current job market. while 27% said it’s somewhat or very difficult.
- 48% of consumers said their household’s financial situation is currently good or very good, flat from April.
- 45.5% of consumers said they are looking for items on sale to save money, while 44.7% are using coupons/discount codes, and 43.9% said they are cooking at home.
- 41% of consumers said they are very or somewhat comfortable spending money on discretionary purchases right now.
- 30.3% of consumers said they plan to use spare cash to travel or go on vacation, and 22.8% plan to make home repairs/improvements.
- 38% of consumers with spare cash said they’re putting it in savings even, and 34% are paying down debts.
Numerator’s May Financial Outlook Score was 50.3, down 0.2% month over month, indicating consumers feel neutral about their household finances. In thinking ahead to one year from now, 24% of consumers said they think their finances will improve; 52% think they’ll be the same, and 23% think they’ll worsen. Black and Gen Z consumers are the most optimistic about their financial situations, while White consumers and Boomers Plus are the most negative, according to Numerator research.
The study is based on data from the Numerator Consumer Sentiment Tracker, which captures more than 6,000 responses a month, the company said.
