The latest from Prosper on Forbes.com on 9/28/2017…
The September consumer confidence reading is down for the third month in a row, but consumer mood is up. How will it impact spending? Deborah Weinswig, Managing Director, FGRT, weighs in on consumer confidence, spending forecast, and Prosper’s Impulsivity Score.
- Prosper Consumer Confidence: In September, economic sentiment confidence slides for the third month in a row. This month, 52% of consumers are confident or very confident in the economy, down a point from last month, but continuing to represent a more than 10% increase year over year. The current reading is tracking just ahead of the 13 month average of 51.2%. At 63.6%, confidence among small business owners is down from last month (64.1%).
“A deeper dive into Prosper’s consumer confidence readings reveals 60.4% of $75K+ income households are confident or very confident in the economy, 840 basis points higher than the confidence levels of adults 18+ older. FGRT also looked at confidence by age cohort; Millennials (18-34), GenX, and Baby Boomers. GenX has the greatest confidence at 53.2% and Baby Boomers exhibited the largest year-over-year increase in confidence, up 27% at 51.3%, but still below the 52% reading for the adults generally. At 51.7%, confidence among Millennials dropped 2.6% from year ago levels,” Weinswig commented.