According to Prosper Insights and Analytics, consumer sentiment inched up from May to June but is well ahead of where it was at this time last year. And big-ticket spending plans are up across the board.
If there is a downer, it’s that confidence is still a seaweed’s width on the underwater side.
10.1% are very confident about the economy, and 39.5% are confident, a total of 49.6%.
But 39.6% have little confidence and 10.8% have no confidence, outweighing the confident by 0.8% with a 50.4% total.
But 49.6% was an improvement over May’s 48.6%, with a MOM index of 102; and the score is much improved over last June’s 42%, with a YOY index of 118.
On the employment front, 19.5% expect more jobs are coming, 61.9% thinks employment levels will be the same and 18.6% expect job losses.
The Prosper Happiness Index was a healthy 109.6, favorably comparable to May 2015’s 105.6 and June 2014’s 105.4.
Consumer financial plans were static MOM. 32.7% will concentrate on paying down debt; 27.7% will decrease overall spending; 27.6% will increase savings; and 15.4% will pay with cash more often.
Plans to purchase an automobile is actually down MOM, with an index of 89, but YOY it’s still an improvement, with an index of 112.
Big ticket spending is a definite plus zone.
22.5% will spend on a vacation, up from 19.3% in May.
15.5% will buy a computer, up from 14.4%.
9.7% will invest in their homes, up from 8.8%.
9.3% will acquire a new TV, up from 8.5%.
8.1% will get a new mobile device, up from 7.4%.
Source: Prosper Insight and Analytics
