January’s Zeta Economic Index (ZEI) Shows US Economy Holding Steady Heading into 2025
Zeta Global (NYSE:ZETA) has released its January 2025 Zeta Economic Index (ZEI), showing the US economy maintaining stability despite post-holiday adjustments. The Economic Index Score (EIS) slightly decreased by 0.8% MoM to 70.9, while the Economic Stability Index (ESI) increased 0.6% QoQ to 66.9.
Key findings include: discretionary spend propensity rising 4.6% MoM, dining sector activity increasing 4.1 points MoM driven by gift card redemptions, and retail activity declining 3.9 points due to winter weather impacts. Healthcare activity also dropped 3.9 points amid new coverage rules, while job market sentiment saw a significant 19.6% MoM decline.
The ZEI, powered by Generative AI analyzing data from over 245 million US consumers, provides real-time economic insights through over 20 proprietary inputs.
Zeta Global (NYSE:ZETA) ha pubblicato il suo Zeta Economic Index (ZEI) di gennaio 2025, mostrando che l'economia degli Stati Uniti mantiene la stabilità nonostante i cambiamenti post-festivi. L'Economic Index Score (EIS) è diminuito leggermente dello 0,8% mese su mese, portandosi a 70,9, mentre l'Economic Stability Index (ESI) è aumentato dello 0,6% trimestre su trimestre, raggiungendo 66,9.
I risultati chiave includono: l'inclinazione alla spesa discrezionale che è aumentata del 4,6% mese su mese, l'attività del settore della ristorazione che è aumentata di 4,1 punti mese su mese, trainata dai riscatto delle carte regalo, e l'attività retail che è calata di 3,9 punti a causa dell'impatto del maltempo invernale. Anche l'attività nel settore sanitario è diminuita di 3,9 punti a causa di nuove regole di copertura, mentre il sentiment del mercato del lavoro ha registrato un significativo calo del 19,6% mese su mese.
Il ZEI, alimentato da intelligenza artificiale generativa che analizza i dati di oltre 245 milioni di consumatori statunitensi, fornisce approfondimenti economici in tempo reale attraverso oltre 20 input proprietari.
Zeta Global (NYSE:ZETA) ha lanzado su Zeta Economic Index (ZEI) de enero de 2025, mostrando que la economía de EE. UU. mantiene la estabilidad a pesar de los ajustes posteriores a las vacaciones. El Economic Index Score (EIS) disminuyó ligeramente un 0,8% mes a mes, alcanzando 70,9, mientras que el Economic Stability Index (ESI) aumentó un 0,6% trimestre a trimestre, logrando 66,9.
Los hallazgos clave incluyen: la propensión al gasto discrecional que aumentó un 4,6% mes a mes, la actividad del sector de comidas que subió 4,1 puntos mes a mes impulsada por el canje de tarjetas de regalo, y la actividad minorista que disminuyó 3,9 puntos debido al impacto del clima invernal. La actividad de salud también cayó 3,9 puntos en medio de nuevas reglas de cobertura, mientras que el sentimiento del mercado laboral experimentó una significativa disminución del 19,6% mes a mes.
El ZEI, potenciado por inteligencia artificial generativa que analiza datos de más de 245 millones de consumidores estadounidenses, proporciona información económica en tiempo real a través de más de 20 entradas propietarias.
Zeta Global (NYSE:ZETA)는 2025년 1월 Zeta Economic Index (ZEI)를 발표하였으며, 휴일 이후 조정에도 불구하고 미국 경제가 안정성을 유지하고 있음을 보여주고 있습니다. Economic Index Score (EIS)는 전월 대비 0.8% 감소하여 70.9에 도달했으며, Economic Stability Index (ESI)는 전분기 대비 0.6% 증가하여 66.9에 도달했습니다.
주요 발견사항에는 재량 지출 경향이 전월 대비 4.6% 증가했으며, 선물 카드 환급에 힘입어 외식 부문 활동이 전월 대비 4.1 포인트 증가한 반면, 겨울 날씨의 영향으로 소매 활동이 3.9 포인트 감소했습니다. 의료 활동도 새로운 보장 규정에 따라 3.9 포인트 하락했으며, 고용 시장 심리는 전월 대비 19.6%의 큰 감소를 보였습니다.
ZEI는 2억 4,500만 명 이상의 미국 소비자로부터 수집된 데이터를 분석하는 생성적 AI에 의해 구동되며, 20개 이상의 독점 입력을 통해 실시간 경제 통찰력을 제공합니다.
Zeta Global (NYSE:ZETA) a publié son Zeta Economic Index (ZEI) de janvier 2025, montrant que l'économie américaine maintient sa stabilité malgré les ajustements post-fêtes. Le Economic Index Score (EIS) a légèrement diminué de 0,8 % par rapport au mois précédent, atteignant 70,9, tandis que le Economic Stability Index (ESI) a augmenté de 0,6 % par rapport au trimestre précédent, atteignant 66,9.
Les résultats clés incluent : la propension à dépenser de manière discrétionnaire augmentant de 4,6 % par rapport au mois précédent, l'activité dans le secteur de la restauration augmentant de 4,1 points par rapport au mois précédent, soutenue par les échanges de cartes-cadeaux, et l'activité de vente au détail diminuant de 3,9 points en raison des impacts des intempéries hivernales. L'activité dans le secteur de la santé a également chuté de 3,9 points en raison de nouvelles règles de couverture, tandis que le sentiment sur le marché du travail a connu une baisse significative de 19,6 % par rapport au mois précédent.
Le ZEI, propulsé par une IA générative analysant des données de plus de 245 millions de consommateurs américains, fournit des informations économiques en temps réel grâce à plus de 20 entrées propriétaires.
Zeta Global (NYSE:ZETA) hat seinen Zeta Economic Index (ZEI) für Januar 2025 veröffentlicht, welcher zeigt, dass die US-Wirtschaft trotz nach-ferienbedingter Anpassungen stabil bleibt. Der Economic Index Score (EIS) sank im Monatsvergleich leicht um 0,8% auf 70,9, während der Economic Stability Index (ESI) im Quartalsvergleich um 0,6% auf 66,9 anstieg.
Wesentliche Ergebnisse sind: die Neigung zur diskretionären Ausgaben stieg um 4,6% im Monatsvergleich, die Aktivität im Gastronomiebereich nahm um 4,1 Punkte im Monatsvergleich zu, angetrieben durch Einlösungen von Geschenkkarten, während die Einzelhandelsaktivität um 3,9 Punkte aufgrund von Winterwetter-Effekten zurückging. Auch die Aktivität im Gesundheitswesen fiel um 3,9 Punkte unter neuen Deckungsregeln, während das Stimmungsbild auf dem Arbeitsmarkt einen signifikanten Rückgang von 19,6% im Monatsvergleich verzeichnete.
Der ZEI, der von generativer KI betrieben wird, die Daten von über 245 Millionen US-Verbrauchern analysiert, bietet in Echtzeit wirtschaftliche Einblicke durch über 20 proprietäre Eingaben.
- Discretionary spend propensity increased 4.6% MoM
- Economic Stability Index (ESI) rose 0.6% QoQ
- Dining sector activity increased 4.1 points MoM
- Credit line expansion intent grew 0.6% MoM
- Economic Index Score decreased 0.8% MoM
- Retail activity declined 3.9 points MoM
- Healthcare activity dropped 3.9 points
- Job market sentiment plummeted 19.6% MoM
Insights
The January ZEI data presents a complex economic landscape that merits careful analysis. The marginal 0.8% MoM decline in EIS to 70.9 should be contextualized against typical post-holiday patterns - this relatively modest adjustment suggests underlying economic resilience rather than concerning weakness. The 0.6% QoQ rise in ESI to 66.9 further reinforces this stability thesis.
The dining sector's 4.1 point increase reveals an interesting consumer behavior shift. This surge, coupled with the 4.6% rise in discretionary spending propensity, indicates consumers are reallocating rather than reducing expenditure. The gift card redemption pattern suggests strategic spending rather than economic strain.
However, the dramatic 19.6% decline in job market sentiment warrants particular attention. This sharp drop, occurring amid relatively stable consumer spending metrics, might signal a disconnect between current economic activity and future expectations. The contrast between robust current consumption and deteriorating employment outlook could presage changing consumer behavior patterns in coming months.
The retail sector's 3.9 point decline appears more structural than cyclical, with weather impacts compounding typical post-holiday adjustments. This multi-factor pressure on retail, combined with the healthcare sector's parallel decline, suggests a selective consumer spending environment where discretionary purchases are being carefully prioritized.
Consumer Spending Remains Resilient Post-Holiday, With Dining Activity Up and Retail Facing Seasonal Headwinds
Following the surge in consumer spending during the 2024 holiday season, the US economy appears to be holding steady at the start of 2025, despite an expected post-holiday correction from retail. One bright spot is the dining sector, which saw a 4.1 point increase month-over-month (MoM) in activity, fueled by seasonal trends such as gift card redemptions and colder weather driving demand for takeout.
The Economic Index Score (EIS), the ZEI’s primary measure of US economic health, dipped slightly to 70.9, a
“It’s an encouraging signal for the year ahead that the economy looks this strong in a month when consumers typically pull back on spending,” said David A. Steinberg, Co-Founder, Chairman, and CEO of Zeta Global. “The ZEI provides a real-time, behavior-driven view of economic conditions in the US offering business leaders a valuable tool to navigate 2025 investment. In the coming months, we’ll be closely monitoring whether consumers reignite their spending patterns or maintain a more cautious approach.”
Additional highlights from the January 2025 ZEI:
-
Consumer Spending Remain Strong: Discretionary spend propensity rose
4.6% MoM. Similarly, credit line expansion intent edged up .6% MoM, showing a steady, albeit cautious, appetite for borrowing. - Dining Sales Are Up: Consumer interest in dining made a strong comeback in January, marking the biggest MoM gain across industries. Following a rise in gift card sales during the holiday season, consumers appear to be eager to redeem them sooner rather than later, with a 4.1 point increase for the sector.
- Cold Winter Impacts Retail Activity: Retail activity declined 3.9 points MoM, possibly attributed to the deep freeze most of the nation experienced in January. Historically, colder winter months negatively affect retail almost immediately, especially in small businesses as they opt to close rather than pay employees for little to no customers.
- Healthcare Activity declines: Healthcare activity declined, falling 3.9 points. As consumers navigate new coverage rules and reset deductibles, policy changes in corporate insurance plans at the start of the year are likely a factor in the decline. Additionally, some uncertainty may stem from recent headlines around government stance on vaccines and healthcare policy, which could add to broader consumer hesitancy.
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Job Market Sentiment Drops Sharply: A drastic decline of
19.6% MoM could indicate rising concerns over job security, hiring freezes, or shifting employment dynamics—particularly as many jobs face uncertainly as the new administration begins to implement new policies.
Unlike traditional surveys, the ZEI leverages Generative AI to analyze trillions of behavioral signals, recalibrating each month to reflect actual consumer activity. With insights derived from over 20 proprietary inputs, the index provides a comprehensive, real-time view of economic sentiment, activity and spending trends.
The Zeta Economic Index is publicly available here and is provided as a complimentary service. It should not be considered investment advice or be relied upon to make investment decisions.
About Zeta Global
Zeta Global (NYSE: ZETA) is the AI Marketing Cloud that leverages advanced artificial intelligence (AI) and trillions of consumer signals to make it easier for marketers to acquire, grow, and retain customers more efficiently. Through the Zeta Marketing Platform (ZMP), our vision is to make sophisticated marketing simple by unifying identity, intelligence, and omnichannel activation into a single platform – powered by one of the industry’s largest proprietary databases and AI. Our enterprise customers across multiple verticals are empowered to personalize experiences with consumers at an individual level across every channel, delivering better results for marketing programs. Zeta was founded in 2007 by David A. Steinberg and John Sculley and is headquartered in
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Investor Relations
Matt Pfau
ir@zetaglobal.com
Press
Candace Dean
press@zetaglobal.com
Source: Zeta Global
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