The Numerator Consumer Sentiment Tracker for May showed that consumer confidence was about flat compared to April, with 41 percent of consumers very or somewhat comfortable spending money on discretionary purchases.
The Numerator Consumer Sentiment Tracker captures over 6,000 responses monthly and provides a monthly view of consumer confidence, spending and saving considerations and future financial outlook.
Numerator’s consumer confidence score for May was 56.8 against 56.9 in April 2024, 55.8 percent in May 2023 and 60 in May 2022. The consumer confidence score is an average of how consumers feel about the job market, household finances, and spending comfort levels.
“Consumer confidence held steady in May, with consistent levels of comfort across the board,” said Numerator. “Households reported stable confidence in their ability to make ends meet, confidence in the job market, and comfort with non-essential spending. Overall sentiment is up slightly from last year, though job market confidence is down.”
Other findings in the report:
- Job Market Score:40 percent of consumers think it’s very or somewhat easy to find employment in today’s job market, which is in line with last month’s but down from 43 percent last year. Meanwhile, 27 percent think it’s somewhat or very difficult, in line with last month and up 5 points from last year.
- Household Finances Score:48 percent of consumers said their household’s financial situation is good or very good, consistent with last month and up from 44 percent last year. While 17 percent said their finances were poor or very poor, in line with last month and up from 16 percent last year.
- Spending Comfort Score: 41 percent of consumers are very or somewhat comfortable spending money on discretionary purchases, in line with last month and last year. At the same time, 31 percent are somewhat or very uncomfortable, consistent with last month and in line with last year.
