Support our nonpartisan, nonprofit research and insights which help leaders address societal challenges.
DonateCHARTS
As consumer expectations drift downward, prospects for US recovery weaken
Consumer demand is a critical engine of the US economy, and the latest data from The Conference Board Consumer Confidence Survey® show that consumer optimism is declining for the second time this year. Expectations for future business conditions, jobs, and income dropped dramatically as the pandemic hit in March but improved from April to June as hopes were high for a quick reopening of the economy. However, in July and August expectations for business conditions and jobs deteriorated once more. Consumer expectations for income remained weak from April onward, and now show that more consumers are pessimistic than optimistic about their financial well-being. This increased uncertainty about income, along with uncertainties about the evolution of the virus, the possibility that government support will dry up, and the prospect of more job losses are all key factors behind the decline in consumer confidence. These concerns will likely cause consumer spending to cool in the months ahead.
Support Our Work
FILTER BY CENTER
Media Room
PUBLICATIONS
COVID-19 Reset & Recovery: Developing Resilience to Move Forward through Uncertainty to New Beginnings
October 09, 2020 | PUBLICATION
BLOGS
PRESS RELEASES & iN THE NEWS
PRESS RELEASE
Employee Readiness Reopening Survey: Only 28 Percent of Workers Expect Return to Workplace by End of 2020
October 08, 2020
Our Experts
Thought leaders who provide trusted insights for navigating companies and the economy though COVID-19.
