May 14, 2020 - Economy
Economic sentiment is being pulled in both directions
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The latest reading of a daily economic sentiment indicator from data firm CivicScience and consulting firm Hamilton Place Strategies finds Americans' overall confidence has reached a crossroads and is holding steady.
What it means: The index is made up of confidence readings in different sectors and responses have sharply diverged in recent weeks.
The big picture: Confidence in the housing market increased for a second straight week, as did confidence in making a major purchase and buying a new home.
- Confidence in the overall economy led the falling readings, reversing a previous eight-week rebound, along with declining confidence in personal finances and confidence in the job market, which fell to its lowest level since the inception of the ESI.
Go deeper: Americans don't realize that coronavirus recovery may take months
