WalletHub Economic Index

The personal finance website WalletHub today released the latest installment of its WalletHub Economic Index, which found that consumers view their financial outlook significantly more positively now than they did at the end of last year.

The WalletHub Economic Index is a monthly survey that evaluates economic prospects based on 10 components of consumer sentiment. These components revolve around how people feel about their finances, purchasing plans and employment opportunities.

Key Stats

• Consumers felt more positive about every component of the WalletHub Economic Index in May 2021 compared to December 2020, with confidence levels rising by 2.9% or more for each component.
• In February, consumers started to gain confidence about whether they would have a job in the next six months. This increase has continued through May.
• In March, consumers felt the most confident that their debt level would decrease over the following six months. Their confidence has continued to increase through May.
• Consumers felt significantly better about their employment opportunities starting in April, with their confidence level up by over two percent compared to the previous month. This positive sentiment has continued to increase through May.
• Conservatives had a larger overall increase in positive consumer sentiment than liberals, jumping 5.8% since December compared to 4.1% for liberals.

The complete WalletHub Economic Index results can be found at https://wallethub.com/edu/wallethub-economic-index/91926.