Market researcher Numerator reported consumer confidence slipped a bit in May with cooking at home among the primary cost-saving measures used by consumers.
In the Numerator Consumer Sentiment Tracker, the May confidence score was 54.9, down 0.1 point compared to April, as consumers worried about some facets of their financial position but were more assured about others. The break-even score between positive and negative sentiments is 50.
To save money, consumers tracked in the study are shopping for items on sale, selected by 40%; using coupons/discount codes, by 40%; and cooking at home, by 39%. Consumers with spare cash said they’re putting it in savings, selected by 35%; and paying down debts, by 32%.
Other fundings in the Numerator study:
- 32% of consumers thought it was very or somewhat difficult to find employment in the current job market, down one point from April.
- 47% of consumers said their household’s financial situation is good or very good, flat to April.
- 38% of consumers were very or somewhat comfortable spending money on discretionary purchases, down one point from April.
- 27% of consumers said they will use spare cash to vacation or travel, down 0.4 points from April and down 3.3 points from the month a year earlier.
- 34% of consumers said they are spending less overall.
- 13% of consumers said they have no spare cash.
The Numerator May Financial Outlook Score was 51.2, up one point from April, as consumers expressed middling feelings about their immediate finances and prospects. When looking a year into the future, 26% of consumers said they believe their finances will be better than they are now, flat from April; 50% think they’ll be the same, up two points; and 24% think they’ll be worse, down two points.
