Consumer confidence is back up to the record high it hit over a year ago in October of 2018. The index bumped up from 57 at the outset of 2019 to 62 this month. Gains across all key demographics have pitched up. Among men (68) and women (57), +6 and +5 point increases, respectively. All age groups ticked up by five points (18-34 and 55+) or six points (35-54). Biggest gains among Hispanics who are up 11 points from a year ago (64). Independents are also up six points points this month (58), Republicans and Democrats both up five points (83 and 44, respectively).
Index questions with the biggest gains from months’ previous are those that focus on Americans’ personal financial situations. Thinking about their financial situation today, 40% (+4pp) of Americans also say they are better off than a year ago and an equal share fare the “same”. Just under two in 10 say they are worse off now. Focusing on their future, almost half (47%) of people now think they will be better off financially a year from now when this remained at or around 40% for Q2 and Q3 of 2019. While 39% think they will be in the same financial situation, just 12% think they will be worse off in a year. A modest majority (53%) of Americans are expecting continuous good times in the next five years.
Personal outlook on financial situations are looking rosier this January than any other since we began measuring consumer confidence.
Americans who say they are better off financially today than they were a year ago hit an all-time high at 40%, up seven points from this time last year and 11 points from the inception of the SurveyMonkey CCI.
In the event of an economic slowdown or recession in the next year, 58% of Americans say they feel prepared personally, though, of this nearly 60%, just 16% are “very” prepared”.
Republicans (74%), older Americans (55+, 74%), men (65%), and whites (63%) are all more likely to say they are prepared for a recession in the next year. Conversely, far fewer shares of Democrats (49%), millennials (18-34, 47%), and Blacks and Hispanics (45%, 47%, respectively) feel prepared for a recession.
Majority of Americans (61%) are not concerned about someone in their household, including themselves, losing their job in the next few months, however; some groups have greater shares feeling more vulnerable.
In general, worries of layoffs or losing their job is a concern for a smaller percentage of Americans (37%). Republicans (78%), white college graduates (72%), older adults (55+, 67%) and men (65%) are among the groups with the greatest shares who are not worried about layoffs impacting their household.
However, for women (40%), younger people (18-34, 42%), racial minorities (Black, 54%, Hispanic, 44%), and those with lower educational attainment (non-white, non-college, 52%), greater shares would be concerned by job loss impacting their household. More Democrats and independents are concerned than Republicans (48%, 42% vs. 21%).
For more detailed results, click through the interactive toplines below.
Read more about our polling methodology here.