Consumers almost equally negative in May

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Consumers are almost as pessimistic in May as they were in the previous month. However, consumer confidence is still low. In May, it stands at -38, compared to -37 in April. Consumers are more negative about the economic climate. Consumers’ willingness to buy is less negative.

At -38, the consumer confidence indicator in May is positioned well below its long-term average over the past two decades (-10). The indicator reached an all-time high (36) in January 2000 while the all-time low (-59) was reached in September and October 2022. CBS has monitored consumer confidence since April 1986.

Consumer confidence, seasonally adjusted
yearmonthbalance (average of the component questions)
2019June-1
2019July1
2019August-1
2019September-2
2019October-1
2019November-2
2019December-2
2020January-2
2020February-2
2020March-3
2020April-23
2020May-31
2020June-27
2020July-26
2020August-29
2020September-28
2020October-30
2020November-26
2020December-19
2021January-19
2021February-19
2021March-18
2021April-14
2021May-9
2021June-3
2021July-4
2021August-6
2021September-5
2021October-10
2021November-20
2021December-26
2022January-28
2022February-30
2022March-39
2022April-48
2022May-47
2022June-50
2022July-51
2022August-54
2022September-59
2022October-59
2022November-56
2022December-52
2023January-49
2023February-44
2023March-39
2023April-37
2023May-38

Consumers more negative about economic climate

Consumers are more pessimistic about the economy in May than they were in April. This component indicator decreased to -53, compared to -48 in April. In particular, consumers’ opinions about the economy in the next twelve months are more negative.

Willingness to buy less negative

Consumers’ willingness to buy stands at -28 in May, up from -30 in April. Consumers are slightly less negative about both their financial situation in the next twelve months and their financial situation over the past twelve months. Consumers are also marginally less negative about making large purchases in May than they were in April.

Sources

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